MEMIC to Pay $16 Million in Dividends

The MEMIC Group announced Tuesday that policyholders of Maine Employers' Mutual Insurance Co. will receive dividend checks totaling more than $16 million this November, a record amount for the company.MEMIC said its board of directors approved the dividends at a meeting in late September. Once the checks are mailed next month, the company will have returned more than $160 million to policyholders since 1998 and more than $100 million since 2006, the carrier said. In November 2012, the company issued a $13 million dividend.In early November, the company will begin issuing checks to its near...