When the co-op succeeds our community benefits!
The co-op is giving $63,244 back to our owners in the form of Patronage Dividends this month. When the co-op is profitable it shares those profits with its owners in proportion to how much they shopped during the year.
Between July 2020 and June 2021 (our fiscal year) owners contributed to about 70% of co-op sales and generated $377,487 in profit for the business we all own together. This led the co-op to its first profitable year in 4 years.
In years when the co-op is profitable the Board of Directors decides whether to distribute profits via Patronage Dividends or retain them for future capital projects. In September 2021, the Board voted to distribute 20% of owner-generated profits.
To be eligible for a Patronage Dividend this year, you must be an owner of the co-op and spent at least $1,093 at the co-op between July 2020 and June 2021. (Don’t forget to use your owner number at checkout–it’s how we track your purchases for future dividends!)
In total the $63,244 in Patronage Dividends will be distributed to 4,272 eligible owners. Dividends can be used as store credit, donated to the Lexington Co-op Community Fund, or requested as a check.
It is an exciting time at the co-op to be able to share our profits with our owners! None of this would be possible without the support of our owners! Thank you for your patronage!