Lincolnshire members receive £1m dividend

LINCOLNSHIRE Co-operative has announced that its dividend bonus payout to members has topped &#163 1million for the first time ever this year. The milestone was achieved after members...

LINCOLNSHIRE Co-operative has announced that its dividend bonus payout to members has topped &#163 1million for the first time ever this year.
The milestone was achieved after members attending the society&#039s recent AGMs voted for a dividend bonus of 50p for every &#163 1 worth of dividend points earned with the Society.
The amount paid out is up 50 per cent on last year and reflects the society&#039s successful trading year.
Society members will receive their bonus in proportion to the dividend points they have collected during the year. The largest single payout this year is &#163 939 and over 5,000 members have received a payout of more than &#163 50.
The Society&#039s Chief Executive Officer, Ursula Lidbetter, said this payout reflects the underlying strength of the Society and the benefit of co-operative membership.
As well as the annual bonus, members also collect Dividend Points as they shop, currently issued at a basic rate of 1 per cent, and are entitled to a funeral benefit payable on the death of the member or their spouse.
Special offers are also available to members from other co-operatives such as insurance and phone deals.
The society has also developed a Community Dividend Card. Every time the Community Card is used when shopping, points will be collected for the member&#039s favourite charity. The society will match every &#163 1 collected in this way with a donation of &#163 1.

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