FirstService Residential is pleased to report that 265 properties in our management portfolio collectively received $981,639 in dividends by participating in Safety Group #561—the largest and most successful Workers’ Compensation Safety Group for real estate in New York State.
The Safety Group declared a dividend of 22.5% for the 2014–2015 policy period. In the majority of cases, this dividend is in addition to the 20% upfront discount FirstService Residential clients receive off the standard rates.
A safety group is a program that enables employers to pool their insurance premiums with the goal of reducing Workers’ Compensation costs. When claims for a safety group come in significantly below the industry standard, a dividend is declared and returned to the employers.
Dividend checks have been deposited in the operating account of participating buildings.
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