Dividend Terms and Conditions

Dividend is an application of a proportion of the net profits of the business of the Society payable upon the value of purchases made from the Society as an ordinary meeting may declare to persons who were members of the Society at the time of such declaration, and where an ordinary meeting so determines, to any other person. Purchase values for the determination of Dividend entitlement will be recorded annually by the allocation of representative Dividend points.

The Directors may determine that no Dividend or that reduced rates of Dividend shall be paid in respect of such purchases as they specify from time to time, such power of determination shall extend to the specification of goods or services and/or to the places or areas in 
which the goods are sold or services provided by the Society. Dividend rates will vary from time to time and between departments. Dividend will not be given on cash-back transactions.

No Dividend shall exceed the amount recommended by the Directors.

Dividend declared upon the value of a member’s purchases from the Society shall be applied in the first instance to paying up in full any partly paid shares held by that member before any withdrawal of Dividend or share interest can be made. A minimum £1.00 balance must be and remain in a member’s share account to be entitled to benefit.

The Dividend card can be used across the East of England Co- operative Society Limited at such outlets which are participating in the Dividend scheme.

To earn Dividend points for a transaction the Dividend card must be presented at the till point before purchases are made. Dividend points will be awarded in other circumstances only at the discretion of the Directors.

The Dividend card is issued by and remains the property of the East of England Co-operative Society Limited which reserves the right to alter and amend the conditions of operation of the Dividend card scheme, to decline, issue or withdraw the card at any time, or to terminate the 
Dividend card scheme without notice.

All individual participants benefiting from the Dividend card scheme must be a full member of the Society and aged 16 years or over. Associate Dividend cards are available at the request of such a member to enable family and friends to record purchases for the benefit of the Dividend account of that member and for no other purpose. Dividend points recorded by the use of an Associate Dividend card shall only be credited to the Dividend account of a member meeting these criteria.

The Society will, at its ongoing discretion, provide an option to Dividend and Associate Dividend card holders to enable them to direct Dividend points on individual purchases accruing to the member to be allocated to charitable and other good causes.

The Dividend card is not transferable and can only be used by the person whose signature appears on the card.

Dividend in the form of a Dividend cheque will be sent annually to members who have accumulated sufficient points to accumulate a Dividend of £2.00 or more by the end of each trading year. The Dividend cheque may be redeemed against goods bought in Society stores 
or paid into the member’s share account.

Members whose Dividend does not reach £2.00 in any trading year will have their total carried over to the next trading year.

Dividend cheques can only be used by the person whose name is printed on the cheque and can only be accepted when presented in conjunction with an East of England Co-operative Society Limited Dividend card bearing the same name.

Any change of address or details and any loss or theft of the Dividend card shall be notified to the Society immediately.

The East of England Co-operative Society Limited is a data controller for the purposes of the Data Protection Act 1998. The personal data you provide the Society will be used for the purposes of administration, statistical and business analysis and marketing for Society use only and for no other purpose. You have the right to ask for a copy of the information held about you (for which a small fee may be charged) and correct any inaccuracies in the information.