SCF Arizona Board Approves $3.5 Million Dividend
Phoenix, AZ (WorkersCompensation.com) - SCF Arizona announced it will pay out safety dividends totaling $3.5 million for 2012 to qualified policyholders. It is the 42nd consecutive year the company's Board of Directors approved a dividend payment.
The state's largest provider of workers compensation insurance began paying safety dividends in 1969, and since that time has returned more than $1.5 billion to qualified policyholders who maintain safe workplaces.
"SCF Arizona is pleased we can once again pay a dividend to qualified policyholders, who are our partners in keeping workers safe statewide," said SCF Board Chair Judith Patrick.
The amount paid to each qualified policyholder will depend on its annual premium and record of workplace injury claims.
SCF Executive Vice President Executive Vice President Insurance Operations & President of Subsidiaries Rick Jones noted that policyholders in three of SCF Arizona subsidiaries – SCF Premier Insurance Co., SCF American Insurance Co., and SCF Western Insurance Co. – receive upfront savings on their premiums rather than a dividend payment at the back end.
"Dividends are never guaranteed. The Board based its decision on SCF's financial performance for the past year as well as conditions in the marketplace," Jones said.
SCF President & CEO Don Smith added, "In approving this dividend payout, the Board's action reflects SCF Arizona's commitment to support local businesses and allows us to reward our safest customers. We could not provide this dividend without the efforts of our employees, our Board and mostly our qualified customers who have earned their safety dividend by their efforts to keep their employees safe," Smith said.