April 16, 2024

Taylor Daily Press

Complete News World

Crelan Co-op will get double revenue this weekend

The co-operative CrelanCo above the Belgian bank is paying dividends that were previously blocked due to European restrictions.

The European Central Bank and the National Bank of Belgium lifted the temporary ban on the payment of dividends by banks on October 1. Co-operative banks such as Crelan also fell under this ban.

Two weeks after dissolution, CrelanCo collaborators will receive a double benefit. On the other hand, a residual dividend of 1.64% was paid out for the fiscal year 2019. The total dividend for 2019 was 3%, of which part (1.36%) was already paid on March 1, 2021. On the other hand again a 3% dividend for fiscal year 2020. Dividends will appear separately in the account at the end of this week.

In addition to profits, cooperatives can count on the so-called partner benefits. With 276,000 Crelan co-ops, the co-op can negotiate discounts from partners for the purchase of products or services.

There are also costs associated with dividends. A Crelan cooperative member pays an annual contribution of €36, unless he is under 24 years old or has a paid checking account. The maximum subscription for CrelanCo shares is €5009.6. Crelan has been trying for two years AXA Bank Belgium To merge.

The 60,000 cooperative members of Argen-Co, the cooperative above Argenta, will receive a 3.25 percent dividend on November 19. There are no costs at Argen-Co and the maximum registration is €10,000.

Despite the recent introduction of withholding tax, the co-op fee remains higher than the interest on a savings account. This also makes sense because in the event of bankruptcy, the cooperative is not protected, as it is Arko drama showed in the past. There is basically no upside potential. Whoever goes out does so at the value of the purchase. Exit must be requested in the first half of the fiscal year.

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the essence

  • CrelanCo will pay dividends for 2019 and 2020.
  • Since 2018, withholding tax has been deducted. This amount can be refunded as long as the dividend income does not exceed 800 euros.
  • In addition to dividends, there are benefits to the partner but there are also costs.
  • The purchase value is exited and must be requested in the first half of the financial year.
  • There is no capital protection.