BriarPatch Co-op sees growth in 2013, returns dividends to owners
June 3, 2014
After seeing 13 percent sales growth in 2013, BriarPatch Co-op Community Market mailed out $177,000 worth of dividend vouchers to the co-op's more than 5,400 owner-households.
"Co-ops have a unique dividend system in which the board of directors, after consideration of the previous year's finances and anticipated future needs, may approve giving money back to owners," General Manager Chris Maher said in a press release. "This system allows us to run a fiscally responsible business and to return profits to owners when we are in a position to do so," Maher said.
The BriarPatch board approved the distribution of dividends at its April meeting, after a year-end audit of the co-op's finances. Each dividend ranges in amount, from $2.01 to $464.67, depending on the household's total purchases at BriarPatch throughout the year.
"BriarPatch owners' return on investment was excellent, all things considered," Maher said. "For an investment of $20 twice a year, owners receive this dividend, as well as other owner benefits, including shopping trip discounts and the pride of being part of a larger network of support and sponsorship benefiting community groups and events."
Founded in 1976, BriarPatch Co-op is Nevada County's leading natural food grocer, located on the 200 block of Sierra College Drive in Grass Valley. BriarPatch is cooperatively-owned by over 11,000 owner-households, and since they adopted the patronage dividend system in 2008, they have given return of profits to owners for five consecutive years.
For more information go to http://www.briarpatch.coop.
To contact Staff Writer Ivan Natividad, email email@example.com or call 530-477-4236.
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