There's no question some economic challenges continue, but it's a far different story for investors in four of the coast's local Community Bank branches of Bendigo Bank.
In fact, it's a continuing celebration of a real home-grown Sunshine Coast success story as Bendigo Bank continue to feed into the prosperity of our community not from it. Nearly 800 shareholders from the Cooroy, Marcoola, Tewantin and Pomona Community Bank branches will now receive their tenth dividend in as many years.
Rick Cooper, Chairman of Sunshine Coast Community Financial Services Limited (SCCFSL), who own and operate the Cooroy, Marcoola, Tewantin and Pomona Community Bank branches, said shareholders will now each receive a share of the $83,649 total dividend, based on 5.0 cents per $1.00 share of 1,672,988 shares. The dividend, which is to be paid on December 21 will be fully franked.
"Receiving another dividend payment is fantastic for company's investors and a nice Christmas present," Mr Cooper said.
"This latest result is a culmination of a lot of hard work and local support from our communities. We believe it's that community connection that sets us apart in the eyes of our customers and, as we continue to say, bank with us and everybody benefits.
"The directors of SCCFSL decided the dividend is just reward to all the shareholders who initially funded the establishment of our branches. They've watched their development and business revenue has grown every year since our inception. It's another great result for our shareholders and our board, branch managers and staff are very proud of the work we do in our communities. Without our share holders' support our branches simply wouldn't exist," Mr. Cooper added.
Tewantin Community Bank branch manager, Kerri Wright said the shareholders won't be the only locals to benefit from the tenth 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 support of Cooroy Memorial Hall and sponsorships of Noosa Alive, Noosa International Film Festival and several community groups, organisations, sporting groups and schools. The total funds given back to the greater Noosa, Coolum and North Shore communities has now exceeded $2.1 million.
"Our board will continue its program of community grants releasing 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," Ms. Wright said.