India, Aug. 18 -- State Farm has started sending out a massive $5 billion cash dividend to eligible auto insurance customers. Millions of policyholders have already received the money, while more payments will be sent over the next several months, the company said.

The payout will cover more than 49 million vehicles insured through State Farm Mutual. The amount each customer gets is linked to the premium they paid for a qualifying auto policy in 2025, according to State Farm.

Customers will not all receive the same amount. The dividend will equal between 4% and 10% of the qualifying 2025 premium, with the exact percentage depending on the state where the policy is held, State Farm said.

State Farm President and CEO Jon Farney said the ...