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Mutual Insurer Increases Dividend

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Guardian Life Insurance Company of America says it will pay $723 million in dividends to individual life policyholders in 2009, up from about $663 million this year.

The 2009 dividend will reflect a dividend interest rate of 7.30%, according to Guardian, New York.

Guardian can increase its dividend despite economic volatility because of improved mortality experience and strong investment performance, Guardian President Dennis Manning says.

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