The MassMutual Life Insurance Company announced its 2015 dividend. Citing the fact that this will be the 17th year the Springfield, MA based insurer has paid over $1 billion in dividends to its participating policy holders.
The exact dividend payout will total $1.6 billion in total representing a $92 million increase over last year and the dividend interest rate will be 7.1% in 2015. This means the dividend interest rate will remain at the same level as 2014.
Chairman and CEO Roger Crandall noted that MassMutual's enduring financial strength, long-term investment strategy, and diverse mix of business were all contributing factors to the payment of this dividend.
Of the $1.6 billion to be paid in dividends $1.55 billion will go to participating whole life policy holders with the remaining funds to go towards other participating insurance policies issued by MassMutual and/or its subsidiary companies.
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Is there someone that pays a higher dividend?
Thank You
Hi John,
Somewhat loaded question. They have one of the highest if not the highest stated dividend interest rate, but there are other companies who products pay a higher total dividend despite a lower dividend interest rate. This is driven by variances in how companies quote and calculate their dividend rate and whether or not they state it as a net or gross rate.