In December 2022, the Board of Directors approved a cash-back dividend equal to 1% of a customer’s eligible daily loan balance for a total payout of $341 million that was distributed in January 2023. Since 2004, we’ve returned more than $2.9 billion in earnings to customer-owners.
Our ability to consistently pay a cash-back dividend for 19 years and counting reflects a remarkable financial strength. In fact, the Board of Directors intends to pay a dividend that has historically approximated 1 percent of a customer’s eligible average daily loan balance each year, barring any unforeseen events.
Cash-Back Dividends in Basis Points
*Cash paid (in millions). Multiplying the eligible average daily loan balance by basis points determines cash paid.