The sum of nearly £5million is to be shared out among Palletforce shareholder members as part of the biggest pay out in the Network’s 13 year history.
The dividend was agreed at Palletforce’s AGM last month, following a record year of success, in both increased volumes and profits.
Michael Conroy, Palletforce Chief Executive, said: "Our membership is the best in the sector and our ethos of working together and working for each other is what differentiates us from our competitors and makes us so successful. Plus as we don’t have professional equity investors to satisfy or debt to finance, we are in a great position to reward our stakeholders in this way.
"The Palletforce success over the past year has been underpinned by our constant commitment to quality, backed by continual investment both centrally and within the Network businesses."
The last 12 months has seen nearly £3million invested in a raft of new technology. New developments include a full Network roll out of ‘ePOD’ (Electronic Proof of Delivery), the ‘Alliance IT System’ which supports the Network’s operations and the introduction of ‘Backloader’ – a brokering service for our members to maximise backloads and shared deliveries.
Palletforce has also been instrumental in creating "ALLNET", the alliance of Europe’s leading pallet networks. This is recognised as a key strategic development for the business, delivering member access to a high quality pan-European network using common systems, guaranteed departure schedules and agreed tariff pricing.
Conroy ends by saying: "Palletforce is a very strong and fantastic business with continuing investment key to our strategy moving forward. Several major projects are already underway to ensure our members have universal access to the widest range of quality logistics and technology solutions."