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WBNS-10TV Columbus, Ohio | Columbus News, Weather & Sports |

Dewine requests $5 billion dividend for employers to ease financial impact of pandemic

BWC's Board of Directors is scheduled to vote on the request on Nov. 2.
Credit: Office of Gov. Mike DeWine

COLUMBUS, Ohio — Ohio Governor Mike DeWine requested the Ohio Bureau of Workers' Compensation to send up to $5 billion in dividends to Ohio employers to ease the impact from the COVID-19 pandemic.

"This pandemic is unprecedented, and continues to financially impact Ohio employers and businesses,” DeWine said. “Issuing these dividends is important. This is about keeping businesses open and people employed.”

If approved it would bring the total dividend dollars for employers to nearly $8 billion this year.

The $5 billion would be the third dividend of more than $1 billion this year and the largest one-time ever issued by the BWC.

The BWC distributed $1.52 billion in April and $1.34 billion in October.

“We’ve never issued three dividends in the same year, let alone any for this much, but unprecedented times call for unprecedented actions,” said BWC Administrator/CEO Stephanie McCloud. “Even so, the State Insurance Fund is well positioned to cover our injured workers for years to come.”

Private and public employers in Franklin County would receive approximately $559 million.

The employer in line for the single largest dividend check in Ohio is the City of Columbus at nearly $64 million.

BWC's Board of Directors is scheduled to vote on the request on Nov. 2.