Once a satisfactory level of margins or profits for 2017 was determined by the Board, the cooperative assigned the rest of the margins to you, the members (each of who owns a portion of the cooperative), according to the amount of energy purchases you made in 2017.
Each member has a dividend account at the cooperative where your dividend allocations accumulate. When the Board allocated the 2017 margins, your portion was moved to your dividend account. Notices were mailed May 31st with the amount that was allocated to your account.
This year Access Energy Cooperative allocated $1,637,496 and passed through allocations from NE Power of $1,047,508 or a total allocation of $2,712,004.
The amount of total allocations the cooperative has stored in the dividend accounts was then reviewed by the Access Energy Cooperative Board of Directors to determine whether or not to generate a dividend payment this year. After reviewing the cooperative’s current financial position, the Board approved a dividend refund this year in the amount of $1,085,593. This refund is 100% of the remaining dividends for 1997, 54% of 2003 and 10% of 2017.
Dividend checks will be available to pick up at the annual meeting on August 7th. Any checks not picked up will be mailed after the annual meeting. Checks will be sent to the most current address we have on file. The cooperative will not be printing checks for amounts under $5.00. These amounts will be added to next year’s refund.