Door County Cooperative began mailing nearly $200,000 to local residents as part of an aggressive stock retirement authorized by the board of directors. Many co-op members will receive a check for five percent of the total stock they have earned in the company.
“This stock retirement represents our commitment to provide a strong cash return to the members who have, and continue to, support the cooperative,” said co-op President Brian Duquaine. “Obviously there are real benefits to doing business with the company you own. By beginning to retire stock issued as recently as 2016, our members are able to realize and enjoy more of those benefits today.”
Each year the Door County Cooperative’s profits get distributed to its members. A percentage of those profits are paid out as cash in June of the following year. The remaining amount becomes co-op stock before it is redeemed through this stock retirement program.
Since its formation in 1939, the Door County Cooperative has distributed millions of dollars in cash back into the community through patronage dividends and stock retirements. Today, co-op members own nearly $10,000 of equity in their company.
Board chair Margie Staats thanked the community for their support and added, “When your local co-op is successful, the members benefit,” she said. “With the continued support of our patrons, and the dedication of our talented staff, we continue to grow and prosper in today’s economy.”
Even if you are not a co-op member, you are welcome to shop at the co-op. However, membership provides direct benefits to you and is always free and open to everyone. To become a member, stop by the co-op or visit doorcountycoop.com.