JERSEY members of the Channel Islands Co-op voted to keep the rate of member shares at 2% at last night’s Annual Members’ Meeting.
More than 100 Islanders gathered at the Pomme D’Or Hotel to hear the yearly update from senior executives and Board members of the pan-island retailer, where they unanimously voted to continue with the 2% dividend share of net profits for the next twelve months.
The picture contrasts that of last year when the retailer announced it would be slashing the shareholder benefits by half (from 4%) after worsening financial conditions saw the organisation finish 2023 with a net loss of £1.8m.
However, members were happy to accept the offer of 2% once again this year, following a turnaround for the company which saw it end 2024 with a net profit of £800,000, resulting in a decision to once again offer bonuses and pay rises to staff members across the business – perks which were previously off the cards.
At last night’s meeting, members also voted for the re-appointment of Jennifer Bridge as CI Co-op’s newest Jersey director, elected out of five possible candidates.
All other motions were carried. Members in Guernsey will vote on whether they are happy with the rate of dividend tomorrow evening.
