IT’S good news for nearly 800 community bank shareholders who will receive their eighth dividend in as many years just in time for Christmas.
The shareholders, who have supported the Cooroy, Marcoola and Tewantin Bendigo Bank Community Bank branches since their inception (with the Cooroy Community Bank Branch opening in 2002) will now receive their eighth dividend.
Sunshine Coast Community Financial Services Limited (SCCFSL) chairman Rick Cooper said shareholders would each receive a share of the $119,296.66 total dividend, based on 7 cents per $1 share of 1,704,238 shares. The dividend, which is to be paid by the end of December will be fully franked.
“Receiving another nice dividend payment is fantastic for the company’s investors,” Mr Cooper said.
“This latest result is a culmination of a lot of hard work and local support from our North Shore, Noosa and hinterland communities. As we continue to say, bank with us and everybody benefits.”
Mr Cooper said the directors of SCCFSL decided the dividend was just reward to all the shareholders who initially funded the establishment of the branches.
“They’ve enthusiastically watched their development and business revenue has grown every year since our inception. It’s another great result for our shareholders, SCCFSL board, branch managers and staff who are all very proud of our continuing work in our communities. Without our shareholders’ support, our branches simply wouldn’t exist,” Mr Cooper said.
Tewantin Community Bank branch manager Wayne Hoens said the shareholders wouldn’t be the only locals to benefit from the eighth dividend.
The company’s remaining profits are being channelled back into communities via a range of donations and sponsorships.
“As many locals are aware, these include sponsorships of the Noosa International Film Festival, Noosa Arts Theatre, Noosa Country Show, Pomona King of the Mountain, Christmas in Cooroy and several community groups, organisations, sporting groups and schools,” he said.
“The total funds given back to the greater Noosa, and Coolum and North Shore communities has now exceeded $2.1 million.
“In coming months the board will continue its program of community grants that will release further funds to assist with a wide range of projects. We’re really proud to be involved with a bank that’s giving locals a real say in their financial future.”
