$26 Million Dividend Distributed in February 2020
At its December meeting, the MICA Board of Trustees declared a $26 million dividend* to be distributed to participating member policyholders in February, 2020.
This dividend is made up of favorable claims development plus a portion of investment earnings. This year’s distribution represents approximately 30% of an annual premium for policyholder members with MICA for 36 consecutive months as of December 31, 2019. Those with MICA for a shorter period will receive a proportionate dividend based on their number of months with MICA.
Following the February distribution, MICA, a true mutual company, will have returned $651 million to its member owners since inception, with $129 million in the last five years alone.
On behalf of the MICA staff and Board of Trustees, thank you for your support.
James F. Carland, M.D.
Chairman, President & CEO
*The dividend declared for the 2019 policy year reflects the Company’s financial performance. Past performance does not guarantee future dividends.