Pedernales to Distribute Nearly $13 Million in Capital Credits
Posted on Nov 4, 2013 in Corporate Governance, Patronage Capital | Comments Off on Pedernales to Distribute Nearly $13 Million in Capital Credits
The Pedernales Electric Cooperative (PEC) Board of Directors recently approved a capital credits distribution of more than $12.7 million to current and former PEC members after the Board reviewed the coop’s fiscal health and determined the distribution would not have any adverse impact on PEC. The distribution of capital credits, which reflect member ownership in PEC, will vary from member to member because capital credits are based on the dollar amount of electricity a member purchases. The Herald-Zeitung has more on this story, including an explanation of how the credits break down for different members.
