Patronage Refund Checks are in the Mail!
Patronage checks for the fiscal year ending June 30, 2009 have been mailed on November 10, 2009. We are pleased to announce that the Co-op made a net profit before taxes and patronage of 5.7%. Member purchases totaled 29.09% of total sales and the Co-op declared a patronage dividend of $446,894. The Board of Directors set this year’s cash distribution at 60%.
Individual patronage checks are a refund on profit relative to your Member purchases when your Co-op Member equity was current. Due to the cost of printing checks and postage, patronage refund checks less than $1.00 were not issued. Patronage checks were issued to over 3,500 Members, ranging from $1.03 to $946.45.
Per IRS regulations, patronage refund checks are only valid for 90 days! Please cash your check before February 10, 2010.
Individual patronage checks are a refund on profit relative to your Member purchases when your Co-op Member equity was current. Due to the cost of printing checks and postage, patronage refund checks less than $1.00 were not issued. Patronage checks were issued to over 3,500 Members, ranging from $1.03 to $946.45.
Per IRS regulations, patronage refund checks are only valid for 90 days! Please cash your check before February 10, 2010.