The Winnebago Cooperative Telecom Association Board of Directors has voted to issue dividends, essentially a $1 million payout, but only to a certain group of its membership. WCTA General Manager Mark Thoma explains:
In short, the payouts go to individuals who were members from 1997 to 2000. The WCTA will issue approximately 8,400 checks to those past and current members.
For those who may not be aware, the WCTA is a member owned cooperative providing telecommunication services to communities in northern central Iowa and south central Minnesota. One of the company’s founding principles as a co-op is to return profits back to their members.
Dividends for subsequent years after 2000 have yet to be decided on by the board.