May 14, 2024
Foresters Financial announces dividend rate for participating Canadian certificate holders
(Toronto, ON, May 14, 2024) – The Board of Directors for The Independent Order of Foresters has approved a dividend payout of CA$10.2 million and an unchanged dividend interest rate of 5.5% for eligible participating certificate holders in Canada for 2023.1,2
Global Chief Financial Officer Alvin Sharma said, “The dividend reflects a strong commitment to our members and a testament to our strong financial position that is underscored by our “A” (Excellent) rating from A.M. Best for the past 23 consecutive years.3 We are grateful to our members for their continued trust and confidence in us to help protect their financial future.”
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About Foresters Financial
Financial security and living your purpose
Foresters Financial™ has helped people protect their family’s financial future for 150 years. But we’ve also gone beyond that, giving our members opportunities to do more for their health, communities and the causes they care about most. Foresters is an intrinsically purpose-driven organization working to enrich family and community well-being. Alongside offering life insurance in the US and Canada and life insurance and savings solutions in the UK, Foresters partners with members to help them do more of the good they want to do.
We’ve been a dedicated group of community builders since 1874 and today, sustainability, environmental consciousness and social responsibility are central to delivering our purpose. That commitment has continually led us to provide meaningful lifelong benefits4 to our members, like Foresters Care™ grants that bring communities together, Competitive Scholarships5 to help create a brighter future for young leaders and others that support a world where more good happens. Together, we’re making a difference while inspiring others and new generations to give back. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 23 straight years, The Independent Order of Foresters has received an “A” (Excellent) rating from A.M. Best.
1 Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions, and limitations and may be changed or cancelled without notice or are no longer available.
2 The Competitive Scholarship benefit is administered by International Scholarship and Tuition Services, Inc. (ISTS).
3 The A.M. Best rating assigned on August 17, 2023, reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by. A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.
4 Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions, and limitations and may be changed or cancelled without notice or are no longer available.
5 The Competitive Scholarship benefit is administered by International Scholarship and Tuition Services, Inc. (ISTS).
Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Moments, Foresters Renew, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.
423414 CAN (05/24)
For more information contact:
Melanie Gaskin
Senior Manager, Communications, Foresters Financial