One of the benefits we offer our customers is enrollment in a Safety Group Dividend Program. PLM currently has 11 programs with different trade associations and buying groups. The dividend programs not only help support the associations in the lumber and wood industry, but also reward our customers for positive loss history while encouraging a culture of loss prevention and risk management.
This will be the largest dividend payout in PLM history with six groups earning dividends! We are happy to recognize the following groups for their successful year: IBSA, IHLA, LBM Advantage, LMC, NCFA and WPMA. Dividend checks were sent out to the participating members of all the programs at the end of June.
Independent Builders Supply Association (IBSA)
The IBSA Safety Group Dividend Plan ended their 2017 plan year with an impressive loss ratio of 0.33%, earning the group a 10% dividend. The 38 members in the group received dividends totaling $116,009.
This is the last dividend calculation for the IBSA program. At the end of 2017, IBSA merged with LBM Advantage. PLM currently has a Safety Group Dividend Plan with the LBM Advantage and has moved all the active participants in the IBSA plan into the LBM Advantage plan as of 1/1/18.
Indiana Hardwood Lumbermen’s Association (IHLA)
PLM paid a 10% dividend to the participating members of the IHLA Safety Group Dividend Plan. The group ended their 2017 plan year with a loss ratio of 3.94%, earning the group their dividend. With 54 members in the group, dividends totaled $489,623.
LBM Advantage
The LBM Advantage Safety Group Dividend Plan received a 5% for their 2017 plan year. With a final loss ratio of 26.28%, the 156 members in the plan received a 5% dividend totaling $411,567.
Lumbermens Merchandising Corporation (LMC)
The LMC Safety Group Dividend Plan ended their 2017 plan year with a loss ratio of 42.31% earning the group a 5% dividend. The 32 members in the program received dividends totaling $642,335.
North Carolina Forestry Association (NCFA)
The NCFA received a 7.5% dividend for the plan year of February 1, 2017 – January 31, 2018. With a loss ratio of 17.87%, the 65 members in the program earned dividends totaling $323,518.
Wood Products Manufacturers Association (WPMA)
The WPMA Safety Group Dividend Plan earned a 7.5% dividend for their 2017 plan year. The group ended with a 13.73% loss ratio giving the 103 participating members a 7.5% dividend totaling $516,160.
Congratulations to the groups on their profitable year!
For more information on the recent dividend payouts or on any of our 11 dividend plans, please contact Susan Cho at 267-825-9350 or at scho@plmins.com. Dividend program information can also be found on our website at www.plmilm.com/dividend-programs/.
