It’s hard to run a successful business in an unsuccessful community. As challenging economic times continue, four Community Bank® branches of Bendigo Bank continue to feed into the prosperity of our community not from it and their shareholders continue to benefit.
In what has become a home-grown success story, nearly 800 shareholders from the Cooroy, Marcoola, Tewantin and Pomona Community Bank branches will now receive their ninth 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 $110,775.47 total dividend, based on 6.50 cents per $1.00 share of 1,704,238 shares. The dividend, which is to be paid on December 20 will be fully franked.
“Receiving another nice dividend payment is fantastic for company’s investors,” 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.
Cooroy and Pomona Community Bank branches manager, Geoff Edwards said the shareholders won’t be the only locals to benefit from the ninth 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 recent support of Cooroy Memorial Hall and sponsorships of the Noosa Country Show, Pomona King of the Mountain, Christmas in Cooroy 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,” Mr. Edwards said.