2021 REI Dividends

As of about a week ago, they weren't going to do traditional dividends, but instead issue out the equal amount in more of a gift card format because they didn't make much or any profit last year, but thankfully for REI, didn't lose money either. They pretty much just broke even. Something must have changed because of of the end of last week, the dividends as they've operated, were back on.

P.S. I bought a lot of 2nd hand and clearance items last year so no dividend for me this year. But I did just get my wife a new Ether Lite pad from them and will be shopping a few other items from them very soon here, I'm sure, so definitely going to build up a nice little dividend pile for next year. Then see what goes on sale across REI and all the other big rec retailers in May. :)
 
This is from their FAQs:
"In 2020, members helped the co-op weather tough times. The co-op member reward is our way of saying thank you! Our member dividend is the way we typically share our profits with members. Even though we didn’t make a profit in 2020, we’re still committed to giving members a member reward—the equivalent amount your dividend would’ve been. In good times or bad, our community always comes first. It’s the co-op way."
 
Parma said:
This is from their FAQs:
"In 2020, members helped the co-op weather tough times. The co-op member reward is our way of saying thank you! Our member dividend is the way we typically share our profits with members. Even though we didn’t make a profit in 2020, we’re still committed to giving members a member reward—the equivalent amount your dividend would’ve been. In good times or bad, our community always comes first. It’s the co-op way."
Click to expand...

Ok, so it's still set up the way I read it earlier in the week. Apparently you used to be able to cash out your dividends, but indeed, it is more of a rewards gift card style balance they give you this year that can't be cashed out.
 
$55.05 of their reward and $291.01 from the credit card rewards. Total of $346.06.

Also I forgot I signed up for one of the credit cards beta tests. I have some available from the card for this year, apparently once I get $40 worth on the card it immediately becomes available.
 
$10.40 and I didn’t buy anything from them all year so not sure what’s up. Maybe the wife did.
 
Wow, I got $25.85! Thanks @Nick for posting this as I wouldn't have known otherwise. I just bought a new pad, but don't recall buying anything last year. My all-time high was when I got enough back to buy a $500 pair of Nikon binoculars with my dividend,
 
No dividends from Canada's Mountain Equipment Co-Op (MEC) for many years, which was acquired last year by Kingswood Capitol Management, a private equity firm, as a result of severe financial difficulties. REI was an inspiration in the 1970's for the founders of MEC, but over the last decade or more MEC lost it's way and was run into the ground by aggressive expansion, and directors and senior management steering MEC to become more of a "lifestyle" store selling high priced clothing, accessories, gadgets and equipment, rather than focusing on providing reasonably priced solid and functional mountain gear. Sad! Not sure how REI is structured these days, but I hope it can avoid a similar fate.

https://runningmagazine.ca/trail-running/mec-sold-the-death-of-an-ideal/
 
Yeah, from what we were told at work, REI lost money last year (A LOT) and due to co-op laws, dividends had to change - hence the name change. Difference this year is cannot cash it out, and it will expire at the end of this year.

Also there is a coupon active now until Monday - there are some new restrictions still, as supply chain is still not great.
 
That's pretty surprising they lost that much money, what with everyone suddenly getting into outdoor recreation this past year. With bikes, kayaks, skis, etc. being close to sold out everywhere, you'd think they had had a banner year for sales.
 
Jackson said:
That's pretty surprising they lost that much money, what with everyone suddenly getting into outdoor recreation this past year. With bikes, kayaks, skis, etc. being close to sold out everywhere, you'd think they had had a banner year for sales.
Click to expand...
that's what surprises me as well. Southern Utah for example has the largest uptick in outdoor activities ever.
And with that usually comes the purchase of outdoor equipment
 
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