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Co-op's bumper pounds 850,000 payout.

MEMBERS of the Co-op in Huddersfield are set to share in a bumper dividend payment totalling pounds 850,000 this month.

This is more than double the amount they received last year.

The payments are made to reward members for their custom with cash payouts twice a year.

The top payment of pounds 500 goes to a customer in Honley.

Generous members in the region are also giving more than pounds 13,600 to local worthy causes through the scheme's Community Fund.

Local organisations can apply for money by picking up a leaflet in Co-op stores.

The share of profits dividend is based on points customers earn whenmembers trade at any of the group's businesses.

These include food shops, travel, pharmacy and funeral outlets, as well as the Co-operative Bank andCo-operative Insurance.

The Manchester-based Co-op has food stores in Almondbury, Cros land Moor, Go lcar, Holmfirth, Honley, Kirkburton, Marsden, Marsh, Meltham, Skelmanthorpe, Slaithwaite and Penistone.

The Co-op is paying a share of profits equivalent to 2.63p per point - up from 1.43p in 2006 - earned across its businesses.

The June payout is based on members' trade in the second half of last year. Overall in 2007, payments to members across the UK doubled to pounds 38.1m.

As well as being rewarded for their custom Co-op members are encouraged to bring pressure for change on a range of issues, including climate change and social exclusion.

In the past year, more than 100,000 members responded to the consultation on the Co-op's new food ethical policy which will shape the strategy of the business.

A spokesman said: "We are committed to delivering value to our members, who ultimately own and control the business."
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Publication:Huddersfield Daily Examiner (Huddersfield, England)
Date:Jun 26, 2008
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