MassMutual Financial Group has approved the insurer's largest dividend payout in history for 2014.
The record payout to eligible policy holders is estimated at $1.49 billion. The dividends to be paid in 2014 reflect a dividend interest rate of 7.1 percent for eligible policy holders, an increase over last year's rate of 7 percent flat.
Although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policy owners consistently since the 1860s, the company said Monday.
"It's almost like a celebration for us," said John W. Chandler Jr., a senior vice president at MassMutual. "It's a sign of not only MassMutual's strength as a company but it's a good sign for our region."
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