The Coast’s three Community Bank branches this week proved they are a home-grown success story.
Nearly 800 shareholders, who have supported the Tewantin, Cooroy and Marcoola Community Bank branches since their inception (with the Tewantin Community Bank Branch opening in 2004) have now received their sixth dividend in as many years.
Rick Cooper, Chairman of Sunshine Coast Community Financial Services Limited (SCCFSL), who own and operate the Tewantin, Cooroy and Marcoola Community Bank branches, said shareholders have each received a share of the $138,895 total dividend, based on 8.15 cents per $1.00 share of 1,704,238 fully franked shares when the dividend was issued in December.
“Receiving a nice dividend payment is a great way for our company’s investors to start 2014,” Mr Cooper said.
“This latest result is a culmination of a lot of hard work and local support from our Noosa and surrounding communities. As we continue to say, bank with us and everybody benefits.”
“The company’s remaining profits are being channelled back into communities via a range of donations and sponsorships, including major sponsorship of the Noosa Long Weekend Festival, Coastguard Noosa, Pomona King of the Mountain, Tewantin, Noosaville and Cooroy State Schools, vehicles for the RSPCA shelter and Noosa Street Reach program and many more. By June 30, 2014, the total funds given back to communities will have exceeded $1.5 million,” said Tewantin branch manager Wayne Hoens.
