The MTMIC Board of Directors is made up of 9 member owners that are from large, medium and small companies. Their individual companies duties consist of: Five of the nine are business owners, two are Chief Financial Officers, one a firm’s Human Resource VP and one is a retired shop owner. These Board members’ businesses receive the same benefits as your company when dividends are declared. As expected, their first obligation is to make sure the financial condition of the company is secure before dividends are declared.
At the August MTMIC Board meeting, Chris Doebler, our Chief Financial Officer reviewed our financial numbers through the first half of 2015. Let me share a couple of the numbers with you:
(Year over year)
- Number of Members: 771 – an increase of 3.6%
- Revenue: $9,438,000 – an increase of 3.2%
- Profit: $1,265,000
The reason these numbers are important is that as a mutual company profits belong to you, our members. The Board was happy with the mid-year numbers and are hopeful that the trends continue. In October the MTMIC Annual Members Meeting will take place at The Inn at St. John’s in Plymouth. At that meeting we will have the financial numbers through 9/30 as well as our first indication of 2015 year end results. We hope you can join us for the annual meeting and hear first-hand about the dividend planning for 2015.
In the meantime, we hope you enjoy these last days of summer. Our heavy coat days are coming soon
