Member-owners receive dividends based on their yearly purchases and our overall performance and profits as a local Co-op. For the 2022-2023 fiscal year, North Central Co-op continue to focus our efforts on expanding our network and offering more opportunities to shop Co-op. Most notable, through a major acquisition, we converted several Husky sites to Co-op gas bars in our trading area.
Despite an aggressive growth strategy, North Central Co-op’s total sales for the year ending January 31, 2023 amounted to just over $309 million with a net savings of $3.7 million. As a result, your locally elected Board of Directors approved allocation of $1.6 million to North Central Co-op member-owners paid out as cash dividends (65%) and equity held in our membership reserve* (35%) based on the following:
- 1% Full pharmacy prescriptions
- 1% Food, liquor and convenience purchases*
- 1% Gas bar petroleum
- 1% Home and building, tank and equipment, bulk propane purchases
- 1% Bulk petroleum and cardlock
- 1% Bulk oil
Thank you to all our loyal members for continuing to support your local Co-op. You can now request a digital copy of your equity statement, sent directly to your inbox.
Support your Co-op in more ways than one.
When you purchase more than one of our products or services, your investment grows, and you help keep more money in your community. Any profits realized within the year are shared with you and your community. Annually, equity is shared with our members either as a cash dividend or held in our membership reserve. Like other investments, allocation depends on our overall annual performance, future investments and growth objectives.
*Applied to your equity reserve based on annual purchases. Your accumulative, credit equity is accessible to you when you turn 65 or move away.