2021 Dividend has now been confirmed at our AMM
YOUR Coop have posted trading results that show how we have continued to support local communities, charities, and colleagues.
At the Annual Meeting of Members (AMM) which was held on 17 and 18 May 2022, it was announced that the 2021 dividend payments have been approved and will be made.
Your Coop will also be rewarding loyal members with an extra 10% dividend if they withdraw their dividend out as Coop vouchers. The vouchers can be taken out via Member Relation counters in selected Coop stores, and will be redeemable until 31 December 2022.
At the AMM, the Society highlighted how it has continued to support local suppliers, with around £9.9 million spent with local suppliers over the last financial year. The meeting also marked the first ever Guernsey/Jersey hybrid AMM and was a key opportunity for the retailer to reinforce its unique business model and what it stands for.
Charitable giving remains the cornerstone of your Coop, with 189 local projects being supported across Jersey and Guernsey. A total of £312,000 was donated to charitable organisations, including £50k from the Coop’s new Community Fund.
It was reported that the annual turnover for 2021 was £181.6 million. From this, Members will receive a share of £7.6 million*. These figures highlight the importance of purpose, and indeed people over profit, further stats reveal the local employer has a total of 1,118 colleagues, with 94% stating they are happy to work for the Society.
Mark Cox, Chief Executive Officer at the Channel Islands Coop, said: 'As the Channel Island's largest locally owned grocery retailer our mission is to make a real difference to the communities we serve, this has never been more pertinent.
From the first days of the pandemic, early in 2020 and throughout 2021 we recognised the responsibility we had to keep islanders fed through our food stores and online, to provide essential medication through our pharmacies and to support the bereaved through especially difficult times.'
'As a community retailer it’s important that we bring light to current issues, such as support for the elderly, provision of school meals, the need for food banks and nurture of our environment.'
Mr Cox added: “It’s why we continued to support the Kirch Welfare voucher for elderly shoppers. Why we donated hundreds of hand sanitisers and digital thermometers to care homes in our community to help keep them safe. Why we funded a breakfast club to ensure children are not hungry when they go to school. And, why we are continuously donating to our island’s food banks, recognising the need for this resource is greater than ever.
'Community really is at the heart of what we do. It is what drives our vision to make a real difference every day in our islands and will continue to do so for as long as we serve our islands.”
For further information, please visit: https://www.channelislands.coop/gg/your-society/members/members-meetings/dividend-payout/
*£7.6 Million being returned to Members comprises of £5.5m in dividend, and £2.1m in interest generated on A and B Share accounts