Foresters Financial Announces 2020 Dividend for Canadian Participating Certificate Holders
TORONTO, June 15, 2020 /CNW/ - The Board of Directors for The Independent Order of Foresters has approved a dividend of approximately $9.5 million for eligible1 participating Canadian certificate holders in 2019. That's up more than 5.5 percent from the $9 million disbursed in 2018. The dividend investment rate in 2019 was 6.0 percent.
Since 1874, Foresters Financial™ has an established history of regularly paying a dividend2.
Foresters Financial Chief Financial Officer Alvin Sharma said, "The dividend reflects a strong commitment to our members and we are delighted to be able to increase it, particularly in a low interest environment. Foresters history of consistent dividend payments is underscored by its financial strength, as evidenced in receiving an "A" (Excellent) rating from A.M. Best3 for 19 straight years and in our industry-leading Canadian regulatory LICAT ratio."
Dividends are but one of the potential advantages of Foresters membership. As a fraternal organization, Foresters offers its members unique benefits4, including competitive academic scholarships, orphan benefits, and complimentary access to create on-line wills and powers of attorney. Importantly, it also provides opportunities for members to give back to their community through Community Involvement Grants.
About Foresters Financial
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters is a purpose-driven organization that exists to enrich family and community well-being and offers insurance products to over three million members and clients in Canada, the US and the U.K. For 19 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best. For more information please visit foresters.com
For information purposes only.
™Foresters Financial, Foresters, and Helping Is Who We Are are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries. For more information, please visit MyForesters.com or foresters.com. To contact us, please call 800 828 1540 (toll-free) or email [email protected].
1Does not apply to certificates where Foresters does not expect to pay dividends.
2Dividends are not guaranteed.
3The A.M. Best rating assigned on August 14, 2019 reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.
4Description of member benefits that you may receive assumes you are a Foresters member. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice.
SOURCE The Independent Order of Foresters
Share this article