A patronage dividend is a dividend or distribution that a co-operative pays to its members or investors.

Corporations may engage in any lawful business within this state upon any cooperative plan adopted by the incorporators, or by the shareholders at any annual or special meeting. Dividends declared on these shares are the same as those of the Subscription Savings Scheme and will be credited into the member’s bank account annually. All members would have to purchase 150 Police Co-op shares at a par value of $1 each at the start of membership. Compulsory Purchase of 150 Police Co-op shares at a par value of $1 each at the start of the membership, which is refundable upon resignation or termination of membership. Sec. 450.99 Cooperative plan; definition; allocation of reserved earnings; cooperative corporations; use of term “cooperative,”“co-op,” or variation thereof. Police Co-op gives out yearly dividend on these savings based on figures standing as at 31 st December.

Other Benefit Besides earning yearly dividends, subscription monies can be used as a collateral against some types of loans taken (Read more about Easi-loan here ). Patronage dividends are given based on a … Compulsory Subscription Savings of $40 per month, which is refundable upon resignation or termination of membership.

99.