£5m dividend for Palletforce members

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Palletforce shareholder members are to share nearly £5 million – the biggest pay out in the network’s 13 year history.

The dividend was agreed at Palletforce’s annual meeting last month, following increases in volumes and profits.

Chief executive Michael Conroy said: “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 company has invested some £3m in new technology over the past 12 months, including the 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 members to maximise backloads and shared deliveries.

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