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Spotlight: State Farm to Pay $692-Million Dividend

September 11, 1997

Thanks to lower-than-anticipated costs, State Farm Mutual Automobile Insurance Co. will pay a $692.3-million dividend to policyholders in 30 states and the District of Columbia. California policyholders will get $93.3 million, or about 8.3% per each policyholder's semiannual premium. That translates into an average rebate of $32 per California policyholder. State Farm, as a mutual insurance company with no stockholders, returns dividends when claims are less costly than expected.

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