Norwegian retailer Coop Norge has paid a record dividend to its members for full-year 2018.
The group said that it paid a share of just over NOK 1 billion (€100 million) to its members.
Shared Profits
If membership coupons and other cash discounts are included the total membership benefit totalled NOK 1.8 billion (€180 million).
This dividend is 13% higher than the previous year, the group said.
"At Coop, we are proud to be different, especially when profits are to be shared and members receive their dividend," said Coop Norge chief executive Geir Inge Stokke. "Our members are our best customers, and each one has contributed to this year being able to pay out a record-breaking dividend."
The group has more than 1.7 million members, and received an additional 100,000 new members last year, of which close to 40% were under 30 years of age.
"It is particularly gratifying that more and more young people are becoming members of Coop," Stokke added. "Our younger customers, in addition to the sharing economy, are concerned with social responsibility and access to healthy and sustainable food."
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
