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 the 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!
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, 2021. After that, unclaimed refunds will be set aside for donation to a nonprofit organization selected by member-owners next fall.
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, 2019 – June 30, 2020). Purchases needed to total at least $65 to qualify for the minimum dividend of 50 cents. While co-ops usually distribute part of a patronage dividend in cash (most commonly 20%) and part in stock (most commonly 80%), the co-op’s board of directors voted to distribute this year’s dividend 100% in cash as a special thank-you to our members during this challenging time. We are distributing $183,779.97 in cash dividends to 14,052 member-owners this year. No change is given for the actual dividend.
What if I can’t use my dividend in one of the stores?
If you are unable to shop at one of our stores, a check can be mailed in place of the e-dividend at the register. Checks will not be issued for under $5 or after Jan. 31, 2021. Send us an email or call
651-310-9499 with your name, member number and current address.