Video: �3.2m dividend payout for East of England Co-op members
THE East of England Co-operative Society is to distribute a total of �3.2million in dividend payments to its members across the region.
The payout was agreed by at the society’s annual general meeting, held at its Wherstead Park head office near Ipswich and dividend cheques will be arriving with members shortly.
John Pendle, the society’s president, said the dividend payment was an appropriate and deserved reward for the society’s 500,000-strong membership, which comprises employees and customers from across Norfolk, Suffolk and Essex.
“By choosing to shop with us our customers are directly supporting their local communities as we deliver vital food, pharmacy, funeral, and optical services, and provide support for local organisations,” he said.
“Members’ loyal support for our businesses means that jobs are protected and created both within the society and in our network of local suppliers.”
The dividend is calculated on the society’s annual trading figures which, as announced last month, showed an �800,000 increase in turnover to �353.3million and a pre-tax profit of �11.7m, up from �8.8m the previous year and the society’s highest total for five years.
The AGM, attended by around 140 members of the society, also saw Gillian Bober and Nicola Boyce re-elected to the board, with two new directors, John Cook and John Hawkins, also being elected.
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Retiring directors Roger Smith and Vanessa Gregory were thanked for their contribution to the society.