Oikocredit Holds Annual General Meeting; Approves 0% Dividend

Last week, Oikocredit International's membership took part in its 44th Annual General Meeting, following related meetings earlier in the week for Support Associations and members. Due to the Covid-19 pandemic, most participants -- including representatives from Oikocredit US -- joined the proceedings via a web-based conferencing system and voting was held electronically.

Among other things, the cooperative's members approved Oikocredit's Managing Board's and Supervisory Board's proposal not to pay a dividend for 2019. The intent of this proposal was to:

  • Allow Oikocredit to add € 11 million that would otherwise have been distributed as dividends to its general reserves, which would help the cooperative weather adverse economic developments should these occur

  • Help Oikocredit ensure the continuity of the cooperative and the protection of its members’ capital as uncertainty caused by the pandemic continues

  • Allow Oikocredit to be flexible in responding to the needs of the partners it finances, which in turn support low-income people hardest hit by the crisis

More information about the Annual General Meeting is at this link.


Photo: Charlotte Lott

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