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SCADS declares 5% dividend to members
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South Canara Agriculture Development Cooperative Society (SCADS) Ltd., Mangaluru, has declared 5% dividend to its members after posting a net profit of ₹8.86 lakh for 2019-20.
SCADS president Ravindra Kambali made this announcement at the annual general meeting of the society in Mangaluru recently, said a release.
He said the society has consistently maintained ‘A grade’ in cooperative audit. Despite less demand for power tillers and competition from private dealers, the society was able to do business worth ₹6.6 crore, besides ₹10.97 crore turnover in banking section.
Stating that the society was awarded the ‘Best Cooperative’ award during the recently concluded Cooperative Week celebrations, Mr. Kambali said the society gave a demonstration of arecanut separating machine in the agriculture workshop.