The board of directors of the Hawaii Employers’ Mutual Insurance Co. Inc., known as HEMIC, have declared a $1.5 million dividend, payable to qualified policyholders.

This is the sixth consecutive year a dividend exceeding $1 million has been authorized by the board.

The company insures “some of the safest employers in Hawaii and some with unfortunate loss histories,” said Jason Yoshimi, president and CFO. He estimates that nearly 80 percent of the company’s members will receive a dividend this year.