Businesses based in Mesa County will receive a total of nearly $1.5 million in the latest distribution of dividends from Pinnacol Assurance.

The workers’ compensation insurer will distribute $50 million in general dividend checks, the sixth consecutive year for dividends.

“During this year when Colorado businesses and their employees are facing significant financial hardships, we’re glad to be in a position to return some money to policyholders,” said Phil Kalin, president and chief executive officer of Pinnacol Assurance.

About 95 percent of Pinnacol policyholders are eligible to receive dividends — nearly 53,000 employers across Colorado. Dividend checks, scheduled to go into the mail beginning March 23, will average $949 statewide.

Mesa County based businesses will receive a total of $1,466,180 — the 10th largest total by county. Checks will average $829.

Garfield County based businesses will receive a total of more than $1 million and an average of $996. Delta County based businesses will receive a total of nearly $323,000 and an average of $700. Montrose County businesses will receive a total of almost $524,000 and an average of $785.

Dividends are based on the financial performance of Pinnacol as well as customers’ commitment to safety with timely claims reporting and investments in safety education, equipment and technology.

Counting the latest distribution, Pinnacol has returned $320 million to Colorado businesses since 2016 — about 9 percent of premiums. Pinnacol returned $70 million in 2020 and what was at the time a lockdown near the onset of the coronavirus pandemic.

Kalin said the company also has reduced customer rates by more than 32 percent since 2016.

Pinnacol Assurance has helped businesses adapt to pandemic-related hazards while also helping them remain focused on such common workplace hazards as slips, falls and unsafe lifting practices, he said. 

“A strong safety culture and proactive management of employees’ safety and well-being can literally put money back in a business’ pocket,” he said. “This is not a nice-to-have or something to be focused on during boom times exclusively.”