HELENA — Montana State Fund’s board of directors recently declared a record $40 million dividend to be paid to about 23,000 employers for positive safety results in the workplace.

The state fund is Montana’s largest workers’ compensation insurance company, insuring nearly 26,000 businesses and other organizations.

This is the 19th consecutive year the company has issued a dividend. In 2016, it distributed $35 million, officials said, adding $216 million in total dividends have been issued since 1999.

Montana State Fund has reduced premium rates or held the rates steady since 2007. Since July of 2007, premium rates have been reduced 37 percent, officials said, adding it is the equivalent to an average return of 27.8 percent of the premium. The dividend amounts range from $10 to $370,952.

The average dividend for policyholders is $1,728, Montana State Fund officials said.

In Cascade County, 1,316 employers will share $2.7 million in dividends, with $2,037 as the average share.

In Chouteau County, 246 policyholders will get $189,996 or $772 as an average share.

In Hill County, 419 employers will see a $506,168 dividend or $1,208 as an average share and Judith Basin’s 102 policyholders will divide $129,872 for an average share of $1,082.

Meagher County’s 94 employers will share $117,547 for an average share of $1,251 and Teton County’s 276 policyholders will share $265,576 for an average share of $955.

Lewis and Clark’s 1,149 employers will divvy up $3.4 million, for an average share of $2,935.

On the high side, Richland County’s 439 policyholders will share a $1.3 million dividend, or $3,079 average share, according to a chart provided by Montana State Fund.

On the low end, 67 employers in Garfield County will share $44,450 for an average share of $443.

Montana historically ranks among the highest in the nation in workplace accidents and fatalities.

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