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Dividend Announcement

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First off, allow me to thank all of you for everything you have done to make this last year simply incredible. In the 20 year history of TBG our financial health and well-being has never been better than it is right now. This is an exciting time to be a Member of TBG and it’s about to get even better.

It is my pleasure to announce that for the first time in 10 years, TBG will be distributing a Dividend to our Members. At the September 21st Board Meeting, the TBG Board of Directors approved the first Dividend distribution for the 2012 Fund Year. We couldn’t be more thrilled to be in the financial position to pay a Dividend once again.

Under the guidelines of our Dividend Policy, the first distribution of a Fund Year is 20% of the total Dividend amount available for that year. The amount to be paid is $653,023 which is 20% of the total Dividend available of $3,265,115 as of 12-31-2015. The payment will most likely be made in May of 2017, following approval by our regulator, the Minnesota Department of Commerce.

Briefly, to qualify for a Dividend, a Member has to meet three basic criteria:

  • You were a Member of the Fund the year the Dividend is based on.
  • You must be a Member on the date the Dividend is paid.
  • Your loss ratio must be less than the breakeven loss ratio for the Fund year the Dividend is paid from.

This year, the TBG Board of Directors and the Minnesota Department of Commerce approved a revised plan outlining the method to distribute future Dividends. The development of this plan was a process that considered the future long-term financial stability of TBG, our fiscal responsibility to you, our Members, and our desire and commitment to pay Dividends to the Members that contributed to the Dividend Funds available (Member Distribution Payable).

The Great Recession was a difficult time to overcome, but we were able to navigate through it without having to assess our Members. Having learned from those tough times, our new policy is designed to provide the best opportunity to pay consistent, annual Dividends into the future. This is a truly great time to be a TBG Member.

Thank you for your support and loyalty to The Builders Group. Look for a more detailed overview of the dividend policy shortly.

Regards,

Stu Thompson
CEO The Builders Group
 
Dividend Fact Sheet

Tom Solberg

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Director

Tom has been a member of The Builders Group since 2004. He’s acted as Chief Financial Officer to Marshall Concrete Products, a materials provider to the construction industry. With 20 years of industry experience and a background in finance, he serves the board with an eye on financial performance. He also has the ability to understand the needs of small companies that purchase their coverage from TBG, as they are the kind of customers that Marshall Concrete does business with each day.

Tom joined TBG because of its commitment to strong claims management coupled with a lower cost and the ability to receive dividends as a further incentive to keep claim levels low. He credits Mitch Loewen, Head of Operations and Marketing for TBG, as being instrumental in his joining the group, as well as providing sound risk-management advice over the years.

He’s a strong believer in paying ahead within his community. He currently volunteers with several local groups, including Urban Homeworks and Healing Haiti, a group that works in impoverished towns to build strong Christian families and break the poverty cycle.

 

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Ron Severson

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Director

Ron has an extensive financial background, acting as Chief Financial Officer in the construction industry and formerly as a Certified Public Accountant. Ron’s employer became a member of The Builders Group in its early years because of TBG’s commitment to the construction industry and priority on safety.

Ron has been a member of the Minnesota Society of Certified Public Accountants and brings to the team great problem-solving ability, as well as thoroughness and attention to detail. He enjoys working with a variety of people and helping provide solutions.

He values family and volunteers at the American Cancer Society and within his church. Ron’s motto is to work hard and be honest and caring.

 

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Kris Scherer

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Secretary

As Chief Financial Officer of a family business, Kris has strong involvement in operations, purchasing, and insurance. He holds degrees in both Accounting and Economics. Kris became a board member in 2016 initially because of how important workers’ compensation is to his own business. He became Secretary in 2019.

Before being part of The Builders Group, his company was self-insured individually through the WCRA. He has a great deal of knowledge credited to that experience. Prior to his present position, he worked in public accounting and commercial banking, and he currently deals with financial and operational issues daily. He also participates on his corporate investment committee and has a strong interest in maintaining and growing financial assets.

Kris looks forward to helping keep TBG stable, making it a great provider of workers’ compensation insurance for its members. In his free time he likes to ski, bike, fish, hunt and be involved with his family.

 

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