Thrivent delivers $304 million in dividends
Eligible members of Thrivent Financial for Lutherans will receive an estimated $304 million in dividends in 2011. This marks the fourth consecutive year the organization will pay more than $300 million to eligible members.
The 2011 dividend scale was recently approved by the organization's board of directors and reflects the organization's continued financial strength and stability.
The organization credits a number of factors for its ability to pay dividends at this level. Among them are solid operating fundamentals, a conservative product portfolio, prudent expense management and a strong member surplus.
"Through our member dividends, we share our financial success with those who have contributed the most to that success, while also maintaining a strong capital position for the future," said Randy Boushek, Thrivent Financial chief financial officer and senior vice president. "We are pleased that our careful financial management has enabled us to produce strong results despite our economy's challenges and the low interest rate environment."
The 2011 dividend scale represents a slight reduction (just under 4 percent) from the 2010 dividend scale of $316 million.
Dividends are distributed annually, on or near the date individuals initially purchased their insurance. Dividend payouts may enable contract owners to purchase more coverage, reduce the amount of future premiums or receive a check in the mail. Not all options are available on some contracts.
Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.5 million members achieve financial security and give back to their communities.