Divi bonus approved for Lincolnshire Co-op members

Members of Lincolnshire Co-operative Society have approved a dividend bonus, which will see dividend card-holders receive a share of £1.56m.

The dividend, to be paid out from 1 December, was approved by members at the society’s annual members’ meetings, held in November at six locations across the organisation’s trading area.

Card holders will receive an extra 85p per £1 of dividend collected during the year. The £1.56m bonus is on top of the £1.83m already paid out, bringing Lincolnshire’s dividend total to £3.39m for the year.

“We’re proud to be a co-operative, and our continued success enables us to pay our members a good dividend, which is their share of the profits,” said Ursula Lidbetter, chief executive of Lincolnshire Co-op.

“We’re really delighted that more people are joining Lincolnshire Co-op too,” she added.

The society, which operates over 215 outlets across Lincolnshire, Newark and surrounding counties, has recently welcomed its 249,000th member, and has begun a countdown for the quarter-million member milestone.

When the society’s 250,000th member joins, they will scoop £250 in dividend, while 100 other existing members will be chosen at random and rewarded for their loyalty with £25 in dividend.