Pioneer Co-op is excited to tout their returns as they announce the specifics of how, and how much, their members will receive equity for the past year.

Last week, the organization issued its report on equity returns, saying they were happy to share good news in uncertain times.

They made $309.8 million in sales during 2019, of which, $11 million was approved for equity allocation.

The Pioneer Co-op Board of Directors says they have approved a general repayment of equity to 50 per cent of that $11 million.

That equity will be mailed to the Co-op’s members at the beginning of June, with leftovers put in the equity accounts of members.

An event held in previous years, Equity Days, will not be happening in 2020 due to COVID-19 and its physical distancing regulations. That event saw employees of Pioneer Co-op hand out equity cheques in person.

The breakdown of the $11 million is as follows

  • 1.5 per cent on food

  • Five per cent on agro

  • 6.25 per cent on farm fuels

  • 5.25 per cent on service stations

  • One per cent on fertilizer

  • 3.5 per cent on pharmacy

They say that over the past five years they were able to give back $61 million in equity, and $62.4 million in cash.

“I would like to thank our members/customers and employees for their tremendous support, throughout 2019,” Pioneer Co-op CEO Larry Kozun said in a press release,” and now as we work our way through the COVID-19 pandemic.

In a later interview, Kozun said that 2019 was a year of development for his organization, as they launched their new liquor store, renovated the Wheatland Mall, made the switch to LED lights in three of their locations, and more.

“Each year, the board does a five-year plan. We do have some projects on the go for this year. Currently, we’re just working through COVID-19, and once that’s done, we will take a look at where we're at and continue with our upgrades.”

He added that they would be open to speaking in-depth on how the Coronavirus will effect their 2020 performance at a later date.

He added the equity raised was on par with previous years.