State Farm Mutual Automobile Insurance Co. will pay dividends of just over $1 billion to auto insurance policyholders in 49 states, the District of Columbia and three Canadian provinces. The return of premiums, approved June 12 by the State Farm Mutual Board of Directors, betters the previous high of $892 million announced in June 1998. With this dividend, State Farm will have returned more than $3.3 billion to policyholders in seven dividends since 1991. State Farm returns money to customers when financial results are better than anticipated and business conditions permit. The size of each customer’s dividend will vary from state to state, but the average per insured vehicle will be about $29.
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