On February 21, the MTM Board of Directors with management reviewed 2018 financial results. This meeting took place after the Board Marketing and Board Finance Committees had weighed on this issue two weeks earlier. At the end of the Board review, they approved three member dividend declarations. The first dividend was $1.6 million to be shared by all MTM members.

The second declaration was an additional $2.4 million dividend to be shared by MTM members that had a loss ratio lower than the company’s average loss ratio for three years. In the third declaration, the Board approved a new dividend of about $450,000 to newer MTM members to bring them into the dividend cycle sooner than has been in the past.

Once this dividend declarations were approved, the MTM accounting department started the process of completing the individual member calculations and printing all the checks. At the end of that process there were 896 checks out of our total membership of 914. Only 18 members did not get a check and those members are new members as of January 2019, February and March. The checks totaled nearly $4.5 million. For on average 25% percentage of MTM’s current premium. After the checks were printed, they were given to marketing and accounting for trip planning. There are several delivery methods: 1) I get to deliver about 150, 2) VP of Marketing, Megan Brown delivers a large stack, 3) our Loss Control staff also takes on some delivery responsibilities, 4) we have some that are mailed to member’s agents for agency delivery and finally 5) some checks are mailed.

As I said in previous years, delivering member checks is the best part of my job. Every shop is very busy and does not have time to waste on drop in visitors. However, as soon as I say I’m from MTM and I have money, doors open. Because there are many checks and the delivery takes just a few minutes, I make no appointments for these deliveries. I just show up. Each delivery takes only 5, maybe 10 minutes. I get updated by what’s going on with the member and I give a two minute update from MTM and we take a picture. It is a very fun time.

Attached are some of the pictures of our deliveries. A wide variety of pictures from a very small shop to midsize shop to large shop. The common characteristic in all of these pictures is the intensity of the manager/owner in their product or service. I hope you enjoy the pictures as I very much enjoyed taking them.

As far as 2019, I can report that January and February were good months. Now just another 10 months of that and we will have the stage set for the dividend next year. In the meantime, thank you very much for being an MTM member. The MTM Board, Committee members and management work every day in making sure that we bring value to your MTM membership.