The co-op dividend is a traditional way of giving members a share of the profits. As a Lincolnshire Co-operative member you'll receive a dividend card to collect dividend points when using our stores and services. As a co-operative we give you dividend in proportion to your purchases so the more you spend, the more dividend you'll get in return.
The dividend scheme is flexible, it allows you to spend your points as you go along. Every time you use your dividend card the receipt will show your current balance in pounds and pence. You can then use this money to pay for goods straight away.
Dividend points are issued at a rate of 1%* in food stores, co-operative travel, motor parts & service and florists. You will receive 5 points for every litre of fuel purchased in our filling stations.
We like to reward members for supporting the values and principles that are important to us. One way we do this is by giving more points (equivalent to 5% of the item price) when you buy local products, fresh fruit and vegetables and Fairtrade items. We also give points at a rate of 5% in our coffee shops, on non-prescription goods in our pharmacies** and on funeral expenses.
There are always lots of extra points offers in our food stores to boost your points total and also special offers in all areas of the business to help you top up your balance.
The total amount of dividend paid out to members each year is based on how profitable we've been. We don't know this until the end of the year so we top up your dividend with a bonus. The amount of bonus is agreed at the annual members meetings in November and is paid out in December - a nice treat just in time for Christmas!
* You will receive 24 points for every £1 spent. 2400 points equals £1.
**Excludes baby formula milk products