As a co-op, redistributing the profits back to our member-owners is part of what makes us unique. In profitable years (as determined by our board of directors), we redistribute the co-op’s profits back to our member-owners, in proportion to each member-owner’s purchases over the past fiscal year, as a patronage dividend. This perk of ownership also lowers the amount of federal income tax the co-op has to pay — so enjoy! During this challenging year, we’ve continued to work hard to provide you with the high-quality, healthy food you need, and we appreciate the support and loyalty you’ve shown us. Thank you!
Your patronage dividend is available on your membership account at the register beginning Oct. 4, 2021. You will receive a postcard in the next few weeks detailing your dividend amount. No need to bring in your postcard; we’ll remind you to use your dividend at the registers. You can use your patronage dividend toward groceries or donate any amount to the month’s Positive Change recipient. Your dividend is not taxable income. This dividend must be redeemed by June 30, 2022. After that, unclaimed refunds will be set aside for donation to a nonprofit organization selected by member-owners next fall. *If you are a LIME member-owner, your cash dividend is applied to your account until the $90 equity payment is reached.
How is my dividend determined?
Patronage dividends are based on each member-owner’s spending at Mississippi Market over the past fiscal year (July 1, 2020 – June 30, 2021). Purchases needed to total at least $144.59 to qualify for the minimum dividend of 50 cents. Co-ops typically distribute part of a patronage dividend in cash and part in stock. The Mississippi Market Co-op Board of Directors voted to distribute this year’s dividend as 22% in cash and 78% in class B stock. Class B stock is invested into continued improvements at the co-op.
What if I can’t use my dividend in one of the stores?
If your dividend is over $5 and you cannot shop at one of our stores, you can request a check to be mailed in place of the electronic dividend at the register. To request a check or donate your patronage dividend to our Positive Change recipient, please email us by Jan. 31, 2022, with your name, member number and current mailing address.