Equity Days have returned for Prairie Sky Co-op.
This week will see equity cheques distributed to members of the co-operative. It kicked off Monday morning at the Metro Centre, on Third Street in Weyburn. From there, equity payments will be handed out at the Sud City location in Weyburn Tuesday. On Wednesday, equity payments will be distributed in Beaubier, then at the Co-op Food Store in Weyburn Thursday and Friday.
Don Kraft, is the general manager of Prairie Sky Co-op. He says despite 2016 being touted as a tough one economically, it turned out to be fairly strong in the end.
“There will be in excess of $2.5 million allocated back to the members this year, and we have about $1.6 million worth of cheques here to hand out in the next week,” Kraft explained. He added his thanks to all of the members for the support Prairie Sky Co-op received over the past.
For those wondering why the equity amount doesn’t equal the amount of cash being paid back to members, Kraft explained some of the equity earned is held back by Prairie Sky Co-op as an investment in the business by the member-owners. Those with less than $200 equity don’t receive a cash payment in equity. Those with $200 to $2,000 in equity will receive back 25 per cent. From $2,000 to $5,000 members receive 50 percent of their allocation in cash. Those who have $5,000 to $10,000 in equity receive 75 percent of their allocation in cash, and anyone with $10,000 or more in equity receives 100 percent of their allocation back. Additionally, members over the age of 65 receive 100 percent of their allocation back in cash as well.