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The Phone Co-op returns part of its profits each year to members in the form of a dividend payment. It is paid after the AGM, where members are asked to approve that year's dividend payment.
The Dividend is split between the members in proportion to their spend with The Phone Co-op during the financial year in question.
For the financial year 2006-2007 the amount allocated to members' dividend was £37,804. This is equivalent to 1.5% of members' VAT-exclusive purchases from The Phone Co-op in the year ended 31 August 2007.
Profits are also used to pay interest on members' share capital, to contribute to our Co-operative and Social Economy Development Fund (which provides finance to support the development of other co-operatives) and to fund the further growth of The Phone Co-op.
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