Montana State Fund Announces Record Tying Dividend
Montana State Fund (MSF), the state’s largest workers’ compensation insurance company, has announced a record tying $40M dividend for policyholders. The decision came at the recent fall meeting of the MSF board of directors.
Gov. Greg Gianforte said, “This is wonderful news for Montana employers who remain committed to improving our workplace safety culture. Without their efforts, this dividend would not be possible.”
While not guaranteed, MSF has paid a dividend every year since 1999. The $40 million brings the total dividends paid to policyholders to $366 million, $260 million of which has been paid since 2015.
Richard Miltenberger, chairman of the MSF board of directors, said “As a public board, made up of private citizens, we were eager to do what we could to help small business owners, nonprofits, and other employers during this difficult time.”
MSF President and CEO, Laurence Hubbard, had the following to say about the announcement: “Dividends are the result of our collective commitment to workplace safety and investment performance. While investment income is not always predictable, one thing we can say for certain is that operating a safe and healthy workplace is good for everyone.”
Dividends are issued to employers as a direct result of better-than-expected investment market performance and positive workplace safety results.
Dividend distribution will begin Friday, Oct. 15, and is scheduled to conclude by mid-November.
