East of England Co-op is set to share £1m with more than 100,000 members after approving a dividend payment at its Annual Members’ Meeting last week.
The regional retailer confirmed the payout at the meeting, which took place at its central support office in Wherstead Park on Thursday 21 May.
Eligible members will receive their dividend payment by post from next month.
East of England Co-op reported a £2m trading profit earlier this month, marking its third consecutive year of profit growth.
The independent co-operative said it plans to maintain momentum by focusing investment in areas where it sees the greatest long-term impact.
The Annual Members’ Meeting, chaired by East of England Co-op president Mandy Errington, was held both in person and online. It included a community and supplier showcase in Wherstead Park’s historic mansion building.
Seven local community groups and charities supported by the retailer attended the event to highlight their work across the region.
They included Project Apis, which uses beekeeping to bring people together, and Colchester United Community Foundation, which is receiving support from East of England Co-op to run a weekly wellbeing session for older adults.
Members were also able to sample products from local suppliers including Tiptree jams and spreads, Honey Tye strawberries, Lane Farm cooked meats, Stokes Sauces condiments, and local ale and cyder from Aspall, Mauldons and Woodforde’s.
Errington said: “Achieving a £2.0m trading profit is a fantastic achievement which everyone across the organisation has worked hard for and should be immensely proud of.
“It was a privilege to host our Annual Members’ Meeting for the first time since being elected president earlier this year.
“The energy and enthusiasm in the room, as members came together to celebrate our success and help shape the future of our co-op, was a powerful reminder of what makes member-owned organisations so special.
“I am passionate about the role the East of England Co-op plays in building stronger, fairer communities, and none of this would be possible without the continued support of our members and the communities we serve.”
The meeting also confirmed the results of the election to the board of directors.
Six candidates stood for three places, with Sally Longmate and Mark Sargeantson elected to the board, while Sally Chicken was re-elected for a further four-year term.
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