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 Reap Big Rewards with $330 Million in Dividends

In the great state of Texas, good news is circulating among local businesses as Texas Mutual Insurance Company has just announced the distribution of over $330 million in dividends! That’s right, nearly 73,000 Texas businesses are set to benefit from this generous payout, which represents an impressive 90% of Texas Mutual’s policyholders. This kind of help goes a long way in fostering economic growth and stability throughout the Lone Star State.

Midland County Businesses Get a Boost

In Midland County, businesses will be celebrating as they collectively receive more than $8.6 million from this dividend program. Imagine the possibilities! Business owners in Midland can now have a little extra cash to improve their operations, support their hardworking employees, or invest right back into their communities. It’s a fantastic way to strengthen local economies and help them thrive.

Williamson County Shares in the Wealth

But it’s not just Midland that’s getting a slice of the pie. In Williamson County, 1,240 businesses will share in an impressive sum of over $6.4 million. Those numbers can truly make a significant difference for business owners looking to enhance their safety measures or expand their services. This influx of cash is sure to energize the local economy, sparking new projects and initiatives.

A Commitment to Safety and Support

The chairman of Texas Mutual’s board has conveyed that this dividend program is a reflection of the company’s commitment to building a safer Texas. The dividends are awarded based on policyholders’ dedication to safety and their success in maintaining low workers’ compensation costs. This not only benefits the policyholders but creates a ripple effect of growth and stability across the entire state.

Continuing the Tradition

It’s noteworthy to mention that Texas Mutual has been rolling out these dividends annually since 1999, marking this as the 27th consecutive year. Over the years, the total amount of dividends distributed to Texas businesses has skyrocketed to nearly $4.8 billion. That’s a remarkable testament to the focus on safety and the success of Texas businesses!

Supporting Community and Workforce Development

Beyond these dividends, the company is also keen on uplifting the Texas workforce and fostering local economic success. Recently, they reported awarding $4.5 million in grants to 66 Texas nonprofits that support working families and initiatives for workforce development. Organizations like the Midland YMCA and the Midland Children’s Rehabilitation Center are set to benefit, sharing $90,000 in funding for their impactful work.

Grant Cycle Ahead

Heads up! Texas Mutual will be accepting applications for a second grant cycle beginning on August 11 and closing on September 12. This initiative is all about providing additional support where it’s needed most, helping to foster an environment where both businesses and communities can flourish.

Leadership and Future Initiatives

Leadership at Texas Mutual is also changing with Jeanette Ward stepping in as president and CEO this year after a nearly 30-year career with the organization. Under her guidance, Texas Mutual is projected to approve a $350 million dividend distribution in 2024. Her robust involvement in various nonprofit and industry organizations demonstrates a strong commitment to improving lives across Texas.

As Texas businesses continue to navigate the aftermath of unprecedented challenges, this generous distribution of dividends by Texas Mutual is not just a financial relief—it’s a beacon of hope, signaling a bright and prosperous future for the Lone Star State.

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Author: STAFF HERE DALLAS WRITER

DALLAS STAFF WRITER The DALLAS STAFF WRITER represents the experienced team at HEREDallas.com, your go-to source for actionable local news and information in Dallas, Dallas 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 State Fair of Texas, Deep Ellum Arts Festival, and Dallas International Film Festival. Our coverage extends to key organizations like the Dallas Regional Chamber and United Way of Metropolitan Dallas, plus leading businesses in telecommunications, aviation, and semiconductors that power the local economy such as AT&T, Southwest Airlines, and Texas Instruments. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.