Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Coop Norway Likely To Pay ‘Record’ Dividend In 2020

Coop Norway has announced that its 1.8 million co-owners can expect a record dividend payment for the year 2020.

The company has earned close to NOK 1 billion (€90 million) so far this year, which is up more than 15% compared to the same period last year, and is therefore anticipating a bumper payout.

'We Believe In Sharing'

CEO of Coop Norway, Geir Inge Stokke (pictured above), commented, “We believe in sharing. We are built for sharing. Coop is not owned by a few rich families, but by our over 1.8 million co-owners.

“At Coop, everyone can become a co-owner, and it is extra nice to see that we are on track for the best payment ever for 2020.”

The benefits earned by Coop's co-owners are related to purchase dividends and bonuses from trading in its construction and grocery chains. It also includes bonuses from several partner companies such as Circle K and LOS.

Expansion

In the first half of 2020, Coop Norway's cooperatives gained as many as 54,000 new co-owners.

Among them, around 35% were under 30 years of age, while 60% were under 40 years of age.

Stokke added, “The co-owners are our best customers and [the numbers keep increasing]. In particular, we have seen a sharp growth in the number of young co-owners in recent years. It is motivating and inspiring.”

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days