dividend

sharing out the surplus (when it exists!)

What the Rules say

Any profits of the Co-operative shall be applied as follows in such proportions and in such manner as may be decided by the Co-operative at the annual general meeting:

(a) To a general reserve for the continuation and development of the Co-operative;

(b) To paying dividends to Members, either equally or in accordance with some other equitable formula which recognises the relative contribution made by each Member to the business of the Co-operative;

(c) To making payment for social, co-operative or community purposes within the community served by the Co-operative.

“Surplus” is what's left of annual income after expenses and other financial commitments (like loan repayments) have been met.

Being a Member may entitle you to a share of future distribution of surplus revenue, if and when the Board and Members decide together that surplus will be distributed. These decisions happen at the Equal Care Co-op's Annual General Meeting (AGM).

Members decide what proportion of the surplus is reinvested into the co-op, what proportion is directed to socially beneficial projects and what proportion is distributed to co-op members, which may vary between membership categories.

Being a member makes you eligible to receive the distribution, but does not mean any distribution will necessarily be made.