Foresters Financial announces a $9.9 million dividend payout for 2020, for participating certificate holders in Canada Français
TORONTO, April 21, 2021 /CNW/ - The Board of Directors for The Independent Order of Foresters has approved a dividend of approximately $9.9 million for eligible1 participating Canadian certificate holders in 2020. The dividend is an increase of over 4 percent from the $9.5 million disbursed in 2019. The dividend investment rate in 2020 was 5.5 percent. Foresters Financial™ (Foresters) is the trade name for The Independent Order of Foresters.
Since 1874, Foresters 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 year of unprecedented macroeconomic uncertainty and in a prolonged low interest environment. Foresters history of consistent dividend payments is underscored by our exceptional financial strength, as evidenced in receiving an "A" (Excellent) rating from A.M. Best3 for twenty straight years and in our industry-leading Canadian regulatory LICAT ratio."
Life Insurance with a Larger Purpose
Bringing a better, new normal to everyday North American families, Foresters offers a suite of unique member benefits4, redefining the conventional life insurance model. Foresters benefits include opportunities for scholarships, orphan benefits, community volunteer grants, Wills and other legal documents, Lifelong Learning, and more.
About Foresters Financial
Foresters Financial is quietly transforming the life insurance industry across the U.S. and Canada by enriching the lives, communities, and overall well-being of its members. Agents and members alike appreciate the turnkey-decisioned product offerings and end-to-end digitized processes that make it easy to get life insurance without traditional medical exams. State-of-the-art mobile tools help agents deliver tailored plans to prospective and current members. Unique to fraternal life insurers, Foresters offers a suite of member benefits, redefining the conventional life insurance model and bringing improved financial security and overall wellness to everyday North American families. Foresters recently merged with Canada Protection Plan to become a leading life insurance distributor in Canada. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For twenty straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best.
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. |
Canada Protection Plan is a trademark of Canada Protection Plan Inc. |
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1 Does not apply to certificates where Foresters does not expect to pay dividends. |
2 Dividends are not guaranteed. Past performance is not an indicator of future performance. |
3 The A.M. Best ratings assigned on August 5, 2020 reflect overall strength and claims-paying ability of The Independent Order of Foresters (IOF). 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. In assigning the ratings for IOF, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest ratings. |
4 Description 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 or are no longer available. |
SOURCE The Independent Order of Foresters
Oliver Ormrod, [email protected]
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