Hensall Co-op topped $1 billion in sales in its most recent fiscal year, but it cut patronage dividends in half because it is keeping more money in reserves for an economy that remains uncertain.
The sales total is a record in the company’s 85 years in business.
Usually it pays out one per cent of revenues in patronage dividends to more than 6,000 members, but this time it’s a half of one per cent.
“Our freight forwarding division is very strong,” president Henry Vander Burgt said, and the edible beans division is well-known.
"Propane and fuel sales held their own in 2021-22, and the strength of those divisions allows Hensall Co-op to envision future possibilities such as the new Hensall Foods Inc. division. One of its initiatives the “Screaming Chef” line of prepared meals now available in two major grocery chains in Ontario."
Chief executive officer Brad Chandler said some of the commodities Hensall Co-op handles, including fuel but also dry beans and IP soybeans, saw significant price increases over 2021-22. This affected sales revenue.
