MCC Employees’ Co-Op Society Declares 15% Dividend

A co-operative society is not a trading concern but a helpful institution of shareholders to secure what they want through mutual assistance.

But Manapa (MCC) has gone one step ahead, and done business, earned profits and declared a dividend of 15% which is higher than a normal bank dividend of 12%. It only shows MCC workers are prosperous while citizens may suffer for want of water and good roads in the coastal city. The society has earned 10.45 lakhs of rupees in its 85^th year.

President Vijay Kumar was in the chair and Secretary K. Manjunatha read out the annual report. Commissioner Vijay Prakash inaugurated the meet. He told the employees that from the Day one to retirement they had opportunities to serve common citizens with affection and enthusiasm, and develop their personality in total service of the coastal people.

The joyous occasion saw distribution of cash assistance and other gifts to 26 merit students (children) of MCC employees. The commissioner advised the parents to tend them well so that their individual talents blossomed slowly but surely. He asked the society to look after the health of its members who work day and night to maintain the city in good shape and improve conditions of civic life in the port city. Retired senior inspector of city cleanliness K. T. Salian was honoured with mementoes on the occasion. Winners of sports activities were given prizes. Departed souls in the society were mourned. Secretary K. Indira, director Ramachandra Nayak, B. B. Gowda, A. Shivanna Naik, Giridhar Sanil and Somashekhar among others were present.

Ramachandra Nayak proposed a vote of thanks.