MEMIC Announces $20 Million Dividend

Workers’ compensation insurance company The MEMIC Group will issue a dividend of $20 million to about 18,000 Maine policyholders next month.  The amount represents 15% of premium paid by Maine policyholders in 2013, the qualifying year for the dividend. It is the largest percentage of premium MEMIC has ever returned, the company said on Tuesday. The company has now issued a dividend in each of the last 12 years, authorizing the return of approximately $220 million to Maine policyholders since 1998. MEMIC paid dividends of $18 million in 2014 and 2015. The dividend will be pa...