Co-op shares £1.8m bonus

Business news from the Lincs Free Press and Spalding Guardian, spaldingtoday.co.uk, @LincsFreePress on Twitter
Business news from the Lincs Free Press and Spalding Guardian, spaldingtoday.co.uk, @LincsFreePress on Twitter

Dividend card holders from across Lincolnshire Co-op’s trading area will benefit from a bonus of £1.8m thanks to the society’s strong trading performance.

Lincolnshire Co-op shares its profits with its 228,000 members, who own the business.

Those who attended one of the society’s six annual meetings in November were asked to approve the bonus, which is equivalent to an extra 75p per £1 of dividend collected during the financial year (to September 7, 2013).

Dividend card holders will collect the £1.8m bonus on top of the £2.4m which has been paid out as dividend during the trading year.

It means that the society’s members will have received a total of £4.2m, an average return to members of over three per cent.

The dividend bonus is based on how well Lincolnshire Co-op has performed. The 2012/13 trading year, which had an extra week, saw total sales rise by 1.8 per cent to £288million.