Page Text: Patronage Dividends
All About Patronage Dividends
A Patronage Dividend is a rebate given to Grange co-op members at the end of each fiscal year (our fiscal year runs Aug-July). Once the year’s profits are calculated, the Board votes on the dollar amount co-op members are to receive back. Our patronage is paid in the form of store credit.
Dividends are a sustainable way to reward members and distribute profits. More money spent at The Grange is more money given back as Dividends. So when you shop at The Grange, you are continuously making an investment into our store, but also into your patronage!
To claim your dividend you must:
be the primary name on the account
have spent a minimum of $200 during the previous fiscal year
claim your dividend by July 31
**We distribute dividends in the amount of $5 or more.
Frequently Asked Questions
When and how will I receive my dividends?
Dividends will be allocated yearly, as voted by the board, in Late October, after the Annual Members Meeting. Dividends will be available through the register as store credit in Late October and expire July 31
How can I increase my dividend?
Be an active co-op owner and use your membership with each purchase. The more you shop, the more you will see in earnings. Don’t forget to encourage your friends to shop here, too!
How much will my dividend be?
Individual patronage earnings are calculated based on the gross profit of your purchases during the previous fiscal year. If you attend our Annual Members Meeting in October, you will receive the letter with your earning notification. Otherwise, letters will be mailed to the address on file.
When is The Grange’s fiscal year?
Our fiscal year runs August 1 – July 31.
I’d like to carry my dividend over to next year, can I?
Dividends do not roll over. They must be spent by July 31st.
Will The Grange distribute dividends every year?
Our goal is to always pay dividends to our members, but to protect our store, we can only pay out when we generate sufficient profits. This is determined by the Board and with the recommendation of our CPA.
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