Lovecity Dividend is the Profit Shared among Cooperative members on a monthly basis, based on the amount of share capital
investment each member possesses.
SOURCES OF DIVIDENDS
- 1. N2,000 Cooperative Commissions realized from membership registration of N5,000
- 2. N800 Cooperative Commissions realized from membership monthly dues of N2,000
- 3. N24,000 Cooperative Commission realized from membership Car award donation of N60,000
- 4. Profits Realized from Other Businesses such as: Real Estate, Manufacturing, Production, Interest from Loan, Stocks etc
ASSUME we realized N100,000,000 PROFITS from all the sources of income highlighted above, 30% goes into Lovecity
TRUST FUND ACCOUNT while 70% is shared as DIVIDENDS:
Assumed Profit = N100,000,000
30% Trust Fund = N30,000,000
70% Dividends =N70,000,000
SHARING N70,000,000 DIVIDEND
When sharing the 70% allocated for dividends, only members who have purchased shares benefit from this monthly exercise.
Below is the example of how dividends are shared based on number of shares owned by individuals.
Assume there is a total of 10,000 units of Shares Capital in the Cooperative, owned by Yemi, Adamu, John and Yinka at various
proportions, below is how N70,000,000 dividends will be shared amongst them:
If YEMI owns 100 units from the total share, Yemi will get N700,000 dividends
If ADAMU owns 500 units from the total share, Adamu will get N3,500,000 dividends
If JOHN owns 1,400 units from the total share, John will get N9,800,000 dividends
If YINKA owns 8,000 units from the total share, Yinka will get N56,000,000 dividends
Members are advised to buy more shares when shares are readily available, so as to take part and earn more on Cooperative