State Farm gives out dividends

Sunday, March 4, 2007 | 12:00 a.m. CST; updated 7:11 a.m. CDT, Monday, July 21, 2008

State Farm Mutual Automobile Insurance Co. announced Thursday that slightly more than 1 million policyholders in Missouri will receive a share of $21.8 million in dividends. State Farm will distribute $1.25 billion nationwide.

Each policyholder in Missouri will receive 7.3 percent of their semi-annual premium, an average of $22 per vehicle insured, a State Farm press release said.

Tia Lindell, a State Farm spokeswoman, said the dividend was a result of fewer losses than the company anticipated when it estimated premiums last year as well as a higher return on its investments.

The last time State Farm paid out dividends was in 2000.

Lindell said because it is a mutual fund company, the dividends pay directly to policyholders.

“Our policyholders are like our stockholders,” she said.

Payments will begin in April.

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