Thrivent to Provide a Record High Payout of $542 million in Dividends and Policy Enhancements to Clients in 2024

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Oct 23, 2023, 11:23 ET

Total payout marks a 22% increase over 2023, reaching more clients than ever before

MINNEAPOLIS, Oct. 23, 2023 /PRNewswire/ -- Thrivent, a Fortune 500 diversified financial services organization, announced today that it will provide $542 million in dividend payments and policy enhancements, such as additional credited interest and reduced fees, to clients with membership in 2024. As a membership-owned organization founded more than 120 years ago, Thrivent doesn't have stockholders and instead returns value to its clients, distributing more than $3 billion in the last 10 years alone. As part of this year's record-breaking total payout, 77% of Thrivent's policies—over 2.1 million—will receive some form of dividend or policy enhancement in 2024, a 9% increase from 2023.

"Thrivent serves millions of clients, and we deliver value to them with competitive products and solutions, strong investment performance and a commitment to financial stewardship. We have grown Thrivent's surplus significantly over the past few years because of our disciplined financial management, and now we're able to deliver record-breaking total payouts to our clients in 2024," said David Royal, chief financial and investment officer. "Although never guaranteed, we've offered dividends to our clients for more than 100 consecutive years. This financial strength and stability—combined with Thrivent's work to empower lives of service and faith—is why our clients put their trust in Thrivent."

Thrivent's strong business results and disciplined financial management has been reinforced by the strong ratings it continues to receive from independent rating agencies. Earlier this year, AM Best reaffirmed Thrivent's A++ (Superior) rating, its strongest possible rating, which the organization has received for more than two decades. Thrivent also carries an Aa2 (Excellent) rating from Moody's Investor Service, the third highest of the agency's 21 rating categories, and an AA+ (Very Strong) rating from S&P Global Ratings, the second highest of the agency's 20 rating categories.

About Thrivent  
Thrivent is a diversified financial services organization that helps people achieve financial clarity, enabling lives full of meaning and gratitude. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products and programs online and through financial advisors and independent agents nationwide. Thrivent is a Fortune 500 company with $162 billion in assets under management/advisement (as of 12/31/22). Thrivent carries ratings from independent rating agencies which demonstrate the strength and stability of the organization, including an A++ rating from AM Best; an Aa2 rating from Moody's Investors Service; and an AA+ rating from S&P Global Ratings. Ratings are based on Thrivent's financial strength and claims-paying ability, but do not apply to investment product performance. For more information on these ratings, visit the rating agency's websites. Dividends are not guaranteed. For more information about Thrivent, visit Thrivent.com or find us on Facebook and Twitter.

Thrivent is the marketing name for Thrivent Financial for Lutherans. Insurance products issued by Thrivent. Not available in all states. Licensed agent/producer of Thrivent. Thrivent.com/disclosures.

Insurance products, securities and investment advisory services are provided by appropriately appointed and licensed financial advisors and professionals. Only individuals who are financial advisors are credentialed to provide investment advisory services. Visit Thrivent.com or FINRA's BrokerCheck for more information about our financial advisors.

Ratings are based on Thrivent's financial strength and claims-paying ability. Does not apply to investment product performance. For information on each rating, visit the individual rating agency's website.

Dividends are not guaranteed and do not apply to all products or clients.

Policy enhancements refer to improvements in non-guaranteed policy features such as future credited rates or fees. These enhancements are not guaranteed in the future.

SOURCE Thrivent