News Summary
Texas Mutual Insurance Company has announced a distribution of over $330 million in dividends that will benefit nearly 73,000 Texas businesses. This program aims to foster economic growth and stability across the state. Midland County and Williamson County businesses are set to receive substantial boosts, with nearly $8.6 million and over $6.4 million respectively. Texas Mutual’s commitment to safety and their history of annual distributions since 1999 underscore their ongoing dedication to supporting local economies and initiatives for workforce development.
Texas Businesses Receive $330 Million in Dividends
Texas Mutual Insurance Company has announced the distribution of over $330 million in dividends to nearly 73,000 businesses across Texas. This significant payout reflects the company’s ongoing commitment to supporting local businesses and promoting safe work environments.
Details on Dividend Distribution
The dividends represent approximately 90% of Texas Mutual’s policyholders, highlighting the extensive reach of this initiative. In Midland County, local businesses are set to benefit from more than $8.6 million in dividends, while businesses in Williamson County will receive over $6.4 million, encompassing a total of 1,240 businesses.
The dividends are meant to provide businesses with financial resources that can be utilized to enhance operations, invest in workforce development, and contribute to local community growth.
Commitment to Safety and Worker Welfare
The dividend program is designed as a recognition of policyholders’ commitment to maintaining safety and keeping workers’ compensation costs low. Over the years, the initiative has been a key part of Texas Mutual’s strategy to foster safer workplace practices across the state.
Texas Mutual has a long history of issuing dividends, marking the 27th consecutive year of providing these financial returns to deserving companies. To date, the total amount of dividends distributed to Texas businesses stands at nearly $4.8 billion, underscoring the company’s significant impact on the local economy.
Broader Support for Workforce and Community Development
In addition to dividends, Texas Mutual is actively involved in community support initiatives. The company recently awarded $4.5 million in grants to 66 Texas nonprofits focused on aiding working families and enhancing workforce development. Among the grant recipients are notable organizations such as the Midland YMCA, Midland Children’s Rehabilitation Center, and West Texas Counseling and Guidance, which collectively will receive $90,000 in funding.
For those interested in applying for grants, Texas Mutual will accept applications for a second grant cycle starting on August 11 and ending on September 12.
Leadership and Future Goals
Jeanette Ward, who became the president and CEO of Texas Mutual in 2023, has emphasized the importance of safety and operational success for businesses in Texas. With a career spanning nearly three decades at Texas Mutual, she has played a vital role in steering the company towards achieving substantial policyholder dividend distributions, including a planned $350 million payout for 2024.
Furthermore, Ward’s recent appointment to the National Council on Compensation Insurance (NCCI) board of directors reinforces her leadership within the industry and commitment to advancing worker welfare initiatives across the state.
Conclusion
The recent dividend distribution represents Texas Mutual’s continued dedication to bolstering the economic landscape of Texas by supporting over 73,000 local businesses. By combining financial resources with long-term strategic initiatives aimed at promoting safety and enhancing workforce capabilities, Texas Mutual reinforces its critical role in the local economy.
Deeper Dive: News & Info About This Topic
- Midland County Businesses Get Over $8.6 Million Back from Texas Mutual
- Texas Mutual Pays $330 Million in Dividends, $6.4 Million to Williamson County
- Texas Mutual Grants $4.5 Million to Nonprofits
- NCCI Names Texas Mutual’s Jeanette Ward to Board of Directors
- Wikipedia: Workers’ Compensation
- Forbes: Best Workers’ Compensation Insurance
- Insurance Journal: Texas Mutual News
- Texas Mutual Awards $100K to Odessa College Safety Institute
- Encyclopedia Britannica: Economics
- Google News: Texas Mutual Dividends
Author: STAFF HERE GEORGETOWN
The GEORGETOWN STAFF WRITER represents the experienced team at HEREgeorgetown.com, your go-to source for actionable local news and information in Georgetown, Williamson County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Red Poppy Festival, Georgetown Swirl, and Christmas Stroll. Our coverage extends to key organizations like the Georgetown Chamber of Commerce and the Downtown Georgetown Association, plus leading businesses in manufacturing and tourism that power the local economy such as local wineries and historic downtown shops. As part of the broader HERE network, including HEREaustin.com, HEREcollegestation.com, HEREdallas.com, HEREhouston.com, HEREgeorgetown.com, and HEREsanantonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
