From The Board: Progress Towards Patronage Dividends
Guest Post by Board Vice President, Steve Hanson
Patronage dividends in most years have come as a nice wintertime surprise for Menomonie Market Food Co-op owners. This rebate comes from the profits at the co-op, which are shared with owners. One of the side effects of our planned expansion to our beautiful, larger store was the expectation of not making a profit for several years as we pay for the expansion. Since there are no profits this year, there will be no refund to our owners for 2019. This has been the case since we built the new store.
The good news is that we are making rapid progress toward profitability, and you can look forward to starting to receive this owner benefit again in the next few years. As happens with all companies, stakeholders receive more return when the business creates wealth, but sometimes forego that return in order to make an investment in the future.
At the November board meeting the co-op board voted to make dividend payments on Class C stock. If you are a Class C stockholder, you can expect to receive a dividend payment on your extra investment in early February. Thank you for your patronage at our co-op and please invite others to join us in our work towards being central to a thriving, healthy local community.
Happy Holidays to you all.