Coop Norway has announced that its 1.8 million co-owners can expect a record dividend payment for the year 2020.
The company has earned close to NOK 1 billion (€90 million) so far this year, which is up more than 15% compared to the same period last year, and is therefore anticipating a bumper payout.
'We Believe In Sharing'
CEO of Coop Norway, Geir Inge Stokke (pictured above), commented, “We believe in sharing. We are built for sharing. Coop is not owned by a few rich families, but by our over 1.8 million co-owners.
“At Coop, everyone can become a co-owner, and it is extra nice to see that we are on track for the best payment ever for 2020.”
The benefits earned by Coop's co-owners are related to purchase dividends and bonuses from trading in its construction and grocery chains. It also includes bonuses from several partner companies such as Circle K and LOS.
Expansion
In the first half of 2020, Coop Norway's cooperatives gained as many as 54,000 new co-owners.
Among them, around 35% were under 30 years of age, while 60% were under 40 years of age.
Stokke added, “The co-owners are our best customers and [the numbers keep increasing]. In particular, we have seen a sharp growth in the number of young co-owners in recent years. It is motivating and inspiring.”
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
