Red River Co-op sends cheques to members, average amount $140.22
Members can expect to receive their cheques as early as Friday, news release says
Cheques are on their way to Red River Co-op members, says a news release issued by the co-op on Friday.
Members will receive a 6.25 per cent rebate on fuel purchases — about six cents per litre, based on an average regular unleaded retail pump price of 96 cents per litre.
The average cheque will be $140.22, the news release said, and members can expect to receive them as early as Friday.
A rebate of five per cent of pharmacy purchases and two per cent of food purchases will also be included in the cheques.
The cheques come following 2015 year-end results that include more than $578 million in annual sales and $33 million in net profits.
The co-op is issuing 234,698 member cheques worth a total of $32 million, the news release said.
Red River Co-op is expanding, with a new cardlock opening on Dugald Road in Winnipeg in March, and later in the spring, construction is expected to begin on a new gas bar, convenience store and car wash on Ness Avenue, the news release said.
Red River Co-op is a member-owned business that runs gas stations and grocery stores in Manitoba and western Ontario. The co-op shares profits with members in the form of annual rebate cheques.