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Coop Norway Likely To Pay ‘Record’ Dividend In 2020

Published on Sep 29 2020 10:29 AM in Retail tagged: Trending Posts / Grocery / Coop Norway / Dividend

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.

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