As a result of several prosperous years, the South Central Communications (SCC) Board of Directors recently announced the reimplementation of a patronage distribution plan to its members. These patronage dividends will be paid on a first-in, first-out basis. Accordingly, the SCC Board of Directors approved a patronage distribution of approximately $1,200,000, for the years of 1979-1988, at its regular monthly meeting on November 30, 2021. Their goal is to have the patronage dividend checks distributed to the Membership by June 1, 2022.
Payment of patronage dividends has been on hold in the prior years as SCC has been utilizing operational funds to build out their state-of-the-art fiber network. This infrastructure transition from copper wire to fiber optics will play a pivotal role in the viability and future success of the Cooperative.
“We are incredibly happy to report that because of our successful operations, there is now a surplus of funds that we can distribute back to our Membership. The Board looks forward to implementing this patronage dividend process and anticipates its continuation for many successful years to come,” explained Board Chairman Paul Pace.
Beginning in March, to facilitate payment of the patronage dividend checks, SCC will be mailing confirmation letters to the address on file for the members that distribution has been declared. SCC is encouraging members expecting patronage dividends from these years to be watching for their confirmation letter and to return them promptly to ensure timely distribution.
CEO Michael East attributed the company’s success and this patronage distribution to the support they continually receive from the community. “On behalf of myself and the Board of Directors, we would like to thank everyone for their continued support and for choosing to be a part of South Central Communications. We look forward to continuing to provide you with the very best Internet and Communication services.”
