Union Coop offers shareholders high returns on purchase


July 9, 2019 | By RetailME Bureau

UAE-based consumer cooperative, Union Coop has opened its purchasing ceiling to its shareholders to offer them the highest possible returns on their purchases as of beginning of 2019. The decision comes as a result of its strategic objectives to ensure shareholder happiness and achieve high returns on their investments.

Explaining the decision, Majid Hamad Rahma Al Shamsi, chairman of Union Coop, said, “With respect to the continuous efforts of Union Coop’s board of directors to make its shareholders happy, the board decided to call-off the previous limit of the purchase ceiling of AED100,000. Now the shareholders can obtain returns on all their purchases, regardless of the total amount as per the rates of return on purchases approved at the Annual General Assembly Meeting.”

Al Shamsi added that Union Coop is continuously seeking new ways and ideas to improve financial performance and contribute towards building a strong and sustainable national economy as well as shareholder happiness at the same time.

“The board’s decision has been activated retroactively as the return on purchases of shareholders shall be calculated as of the beginning of 2019. This will increase the financial ROI and benefit the shareholders,” Al Shamsi added.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /


Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau
Cookit

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau

World’s largest fully integrated online brand in fresh fish and meat e-commerce 

Continue Reading

December 14, 2020 | By RetailME Bureau
Koita

Homegrown, organic and plant milk company, Koita has announced its expansion into 

Continue Reading

December 9, 2020 | By RetailME Bureau
Middle East's vegan revolution

Today’s on-demand streaming services are ripe with docu-series and explainer videos on 

Continue Reading

December 3, 2020 | By Shruthi Nair




Download Images RetailME Magazine