On October 28, 2020 Governor Mike DeWine issued a press release which requested the Ohio Bureau of Workers' Compensation (BWC) send up to $5 billion in dividends to Ohio employers to ease the continued financial impact from the COVID-19 pandemic.
In support of his request, Governor DeWine stated: “This pandemic is unprecedented, and continues to financially impact Ohio employers and businesses. Issuing these dividends is important. This is about keeping businesses open and people employed.”
The BWC’s Board of Directors unanimously approved the dividend proposal. This brings the total dividend dollars for employers this year to nearly $8 billion.
Lieutenant Governor John Husted is also in support of Governor DeWine’s request stated: “As Ohio businesses confront the economic challenges of a COVID world, this kind of financial relief can be the difference between closing and staying open, we don’t want Ohio businesses and the jobs they create to be a casualty of the pandemic.”
The $5 billion dividend would be BWC's third dividend of more than $1 billion this year, and the largest one-time dividend ever issued by the BWC. BWC distributed $1.54 billion in April and $1.34 billion in October. This dividend will amount to approximately 372% of the policy year 2019 premium. The Board of Directors has stated that checks will be sent out in December.