Earlier this year, ICMIF member Thrivent (USA) announced that it will distribute USD 400 million in dividend payments and credited rate enhancements to its clients in 2023. This year’s dividend payout marks a 37% increase over 2022, signifying how Thrivent is continuing to return value to its clients.
As a not-for-profit, fraternal benefit organisation, Thrivent does not have stockholders, which allows it to return a portion of any surplus to eligible clients in the form of dividends. Thrivent has paid dividends to its clients every year since 1913, distributing USD 2.9 billion in the last 10 years alone.
“At Thrivent, our clients are the heart of our organisation and we have a deep responsibility to be good stewards of the resources they entrust to us,” said David Royal, Chief Investment and Financial Officer at Thrivent. “It’s an honour to deliver record-breaking dividends and credited rate enhancements to our clients in 2023, which exemplifies Thrivent’s promise to help clients achieve financial clarity, enabling lives full of meaning and gratitude. This is possible because of Thrivent’s unwavering commitment to our clients and the diligent management of our financial resources.”
This year’s record-breaking dividend distribution is made possible because of Thrivent’s long-term performance and financial strength, and reflects the disciplined management philosophy that has put the organisation in a strong surplus position. In June 2022, independent rating agency AM Best reaffirmed Thrivent’s A++ (Superior) rating, its strongest possible rating, which the organisation has received for more than two decades.
The Thrivent Board of Directors determines whether dividends are issued each year, after setting aside amounts necessary for providing for the growth of the organisation and for protecting the organisation’s ability to meet ongoing and future claims and obligations.
As a mission-driven, diversified financial services organisation, Thrivent helps people achieve financial clarity, enabling lives full of meaning and gratitude. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products and programs over the phone, online as well as through financial professionals and independent agents nationwide.
Driven by a higher purpose at its core, Thrivent is committed to focusing on its clients’ goals and priorities, guiding them towards financial choices that will help them live the life they want today – and tomorrow.
