Penn Mutual’s 2016 Dividend Award Marks Eighth Consecutive Year Its Dividend Scale Has Been Increased or Maintained
As I wrote earlier this month, Penn Mutual announced its 2016 dividend award on November 20. You can read the full announcement here. This year’s dividend award payout is a testament to Penn Mutual’s enduring financial strength, supported by a long-term perspective and prudent management approach. It represents a 17 percent increase for 2016 and a 61 percent increase over just five years ago.
Since the financial crisis in 2008, Penn Mutual has increased or maintained its dividend scale and over the past five years increased the dividend award payout. Our analysis shows that we are unique among our major competitors in this achievement, as the other companies have all decreased their dividend scale at some point since the crisis.
As Eileen McDonnell, chairman, president, chief executive officer of Penn Mutual put it in the announcement:
“We take seriously the trust our policyholders, advisors and associates have placed in us and remain steadfast in our promise to maintain that trust, remain true to our mutual principles and continue to deliver excellent value.”
Dividends are not guaranteed.