PALMYRA, Mo. – Missouri Rural Electric Cooperative’s Board of Directors have approved the refund of capital credits for 2019.
The total amount of $800,419 will be refunded to member-owners. Checks should be received the week of the Annual Meeting, which is Saturday, Aug. 24, at the Palmyra High School Gymnasium. Registration begins at 9 a.m. and the business meeting starts at 10 a.m.
At the close of each business year, any margins are allocated to the member-owners based on the amount of electricity purchased. These allocations are then returned to the member-owners as financial conditions permit. This is one of the advantages of being a member-owner of an electric cooperative.
To date, over $19.4 million have been returned to member-owners during the past 57 years.