Board Allocates Margins to Your Accounts
Your patronage dividend notice will soon be in the mail! At the regular Board of Directors meeting on April 16th, dividend allocations were set for 2008 margins. Notice of your portion of allocations will soon be mailed.
WHAT IS ALLOCATING?
Once a satisfactory level of margins or profits has been determined by the Board, the cooperative assigns the rest of the margins to you, the members and owners of the cooperative, according to the amount of energy purchases you made that year.
Each member has a dividend account at the cooperative, where your dividend allocations accumulate. When the Board allocates margins, your portion is stored in your account.
HOW MUCH WAS ALLOCATED?
This year Access Energy Cooperative allocated $702,546 and passed through allocations from Northeast Missouri Electric Power Cooperative (NE Power) of $902,305 for a total allocation of $1,604,851.
WHEN DO I GET PAID THESE ALLOCATIONS?
In June of each year, the amount of allocations is reviewed by the Board of Directors, in conjunction with the cooperative’s financial position, to determine whether or not to generate a dividend payment for the year.
If a payment of dividends is approved by the Board, checks are distributed at the Annual Meeting in August. This year the Annual Meeting will be held on August 4th.
For members unable to attend the annual meeting, the remaining checks are mailed out soon after the annual meeting. They are sent to the most current address we have on file at the cooperative. Please keep your address current at the cooperative even if you move off of our lines to ensure payment of your dividends.