Northwestern Mutual announces $4.9 billion dividend payout
Milwaukee-based Northwestern Mutual Life Insurance Co. announced its 2010 financial results, including an approved dividend payout for 2011 of nearly $4.9 billion, the second-highest in the company’s history.
Northwestern Mutual reported 2010 net income of $756 million, up from $321 million in 2009. Total revenue grew 8 percent to $23.1 billion.
The company said its surplus grew $3.4 billion to $17.6 billion.
“I’m proud of the consistency of our performance over the past several years despite all the uncertainties in the economy,” said John Schlifske, chairman and chief executive officer. “Over the past three years we’ve maintained positive net income each year, grown our surplus position to record levels and far and away led the industry by paying more than $14 billion in dividends in that period. New sales far exceeded what we expected at the beginning of the year. We knew we were facing a lot of consumer uncertainty, but it’s a testament to our financial representatives that they kept people on track with their financial security plans."
