Discussions

Home
Discussions
The Lounge
Westman cable ( equity cheque )

Westman cable ( equity cheque )

Rue
Joined: May 2009
Posts: 1412

Rue
Joined: May 2009
Posts: 1412

Westman cable ( equity cheque )
12/10/2016 at 3:23 PM

Anyone know if we will get the equity cheque from WC again this year or is it done ?
Lookandlearn
Joined: Apr 2014
Posts: 118

Lookandlearn
Joined: Apr 2014
Posts: 118

got mine
12/10/2016 at 3:29 PM

Got my cheque almost two was ago
Rue
Joined: May 2009
Posts: 1412

Rue
Joined: May 2009
Posts: 1412

cheques
12/10/2016 at 3:52 PM

Lookandlearn said "Got my cheque almost two was ago "

the last 2 years I received mine in dec
Walleye48
Joined: Mar 2013
Posts: 157

Walleye48
Joined: Mar 2013
Posts: 157

Equity Cheques ~
12/10/2016 at 6:26 PM

Rue said "

Lookandlearn said "Got my cheque almost two was ago "

the last 2 years I received mine in dec "

How long do you have to be with them before you see those ?
whodoyoulove
Joined: Oct 2010
Posts: 100

whodoyoulove
Joined: Oct 2010
Posts: 100

I'd like to know when
12/10/2016 at 6:42 PM

Have been with Westman for a year or so
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Wcg
12/10/2016 at 10:38 PM

I think OP might be referring to the dividend that's been paid to equity holders in recent years? Wish I still had the report they recently mailed out and can't seem to have any luck finding it online, but I do remember coming out of reading it with the impression that the balance sheet has had a good year. Didn't read every word of the report to see if hand is tipped on if intent with some of that cash growth was to dividend out to members further or to use for future expansion/growth... but did find old 2013 and 2014 news articles online from December of both of those years when they had made dividend announcements right around this time.
The one thing to keep in mind is just how competitive of an industry they're in and the fact that a major competitor is (maybe?) in the process of being acquired (MTS/Bell). Just total speculation but wouldn't be overly surprised if they decided to be as prepared as possible for any changes/opportunities that might mean by investing that much more aggressively in growth.
RT Holdings
Joined: Sep 2016
Posts: 150

RT Holdings
Joined: Sep 2016
Posts: 150

WCG
12/11/2016 at 9:29 AM

You don't get an equity cheque unless A) you die B) you move for the trading area or C) you switch to MTS or someone else and keep pestering them with requests until they finally mail you a cheque.

Keep in mind WCG is co-op and that money is used to keep things going and reinvested.
lilolme
Joined: Mar 2011
Posts: 116

lilolme
Joined: Mar 2011
Posts: 116

not what they are talking about
12/11/2016 at 10:32 AM

You people keep using equity and patronage allocations interchangeably, this is not the case. This will be I think the fourth year Westman will have paid out patronage allocations to MEMBERS who have I think $500. or more in equity. IF you move out of trading area/change providers/pass way. you can APPLY to have you equity paid out. The one ebrandon''er was correct this is a process that goes through the board and can take up to 18 months. I know when I had questions I just went to their website and called in. They were able to answer all my questions. I assure you less than 1/2 of the information I see here is what I was able to find online or with the finance person I spoke with at Westman.

**edit** Spoke with someone from Westman. AGM meeting yesterday the CFO said the cheques were being printed this week.

Edited by theotherryan, 2016-12-11 10:34:49
Lookandlearn
Joined: Apr 2014
Posts: 118

Lookandlearn
Joined: Apr 2014
Posts: 118

cheque
12/11/2016 at 8:01 PM

Like I said earlier, I received mine the last wk of November. The two yrs prior I hadn't gotten them until early December, but for some reason was early. I was one of those people that switched users. As soon as I did I applied to have my equity paid out - waited the eighteen months then BAM - for the past three years I have gotten cheques for $500 and will still get one more next yr then it will be all paid out.
VTB
Joined: May 2011
Posts: 189

VTB
Joined: May 2011
Posts: 189

No
12/12/2016 at 8:17 AM

At the WCG annual meeting this past Saturday we were told that the patronage cheques were being printed today Dec. 12. Not sure what you got but not the patronage dividend.
CR
Joined: Apr 2011
Posts: 126

CR
Joined: Apr 2011
Posts: 126

$500/year
12/12/2016 at 2:20 PM

Also if you have a lot of equity they only pay out $500/year if you only changed providers but still live in the service area. I believe they pay the full amount if you move and of course for those who pass away.
Rue
Joined: May 2009
Posts: 1412

Rue
Joined: May 2009
Posts: 1412

cheques
12/12/2016 at 2:46 PM

VTB said "At the WCG annual meeting this past Saturday we were told that the patronage cheques were being printed today Dec. 12. Not sure what you got but not the patronage dividend. "

yes those are the cheques I'm talking about thanks for the info
*enter name here*
Joined: Nov 2008
Posts: 2414

*enter name here*
Joined: Nov 2008
Posts: 2414

Good to know!
12/12/2016 at 3:57 PM

I''m glad to read they had their meeting. June of 2015 I got an application form and letter from them about my equity. I haven't used their services for years and the letter was stating they were going to start charging $15/year for admin fees on equities that weren't paid out. I requested the funds be paid to me. I received a letter stating I'd get the funds in the form of a cheque in December of 2016. I phoned the beginning of December to see when they'd get mailed out and I was told they didn't know, it would be after the board meeting and she had no idea when that was going to happen. Fingers crossed it gets mailed out this week.

Edited by *enter name here*, 2016-12-12 15:58:36
*enter name here*
Joined: Nov 2008
Posts: 2414

*enter name here*
Joined: Nov 2008
Posts: 2414

??
12/15/2016 at 11:45 PM

Has anyone gotten them yet or heard anything?
Whaz up
Joined: Apr 2005
Posts: 1070

Whaz up
Joined: Apr 2005
Posts: 1070

Personally speaking....
12/16/2016 at 8:01 AM

I would sooner see Westman use the $500,000.00 towards improvements to the cable system. Don't get me wrong, I enjoy $30 at Christmas time, but $500,000 could go a long way towards repairing damaged cables, updating rental equipment, and improving services to the rural towns.
ProfessorFaulken
Joined: This month
Posts: 61

ProfessorFaulken
Joined: This month
Posts: 61

How long....
12/16/2016 at 2:37 PM

Do you have to be a client of Westman before you accumulate enough to get a cheque? I've been with them for cable and internet for 15 years, and phone for about ten. Am I close, or do you need like 40 years?
Rue
Joined: May 2009
Posts: 1412

Rue
Joined: May 2009
Posts: 1412

cheques
12/16/2016 at 6:57 PM

did the cheques come out this week dec 12 -16 ?
crunchy1885
Joined: Jul 2009
Posts: 821

crunchy1885
Joined: Jul 2009
Posts: 821

rue
12/17/2016 at 8:25 AM

Rue - I didn't get mine this week. But I get them in the past so I assume it's still on the way.

As for the person who asked how long you need to be a customer for, you need to have over a certain dollar amount in your equity account for them to pay you dividends. I believe it's $1,500? For some reason that number rings a bell. If you got your annual equity statement it'll say how much you have. But you could also phone into the equity department and they could tell you
CatMan
Joined: May 2012
Posts: 1144

CatMan
Joined: May 2012
Posts: 1144

$900
12/19/2016 at 9:33 AM

Called this a.m. and was told you have to have $900 in your equity account to receive a dividend, and that cheques were mailed out Friday and today.
Merry Xmas!
*enter name here*
Joined: Nov 2008
Posts: 2414

*enter name here*
Joined: Nov 2008
Posts: 2414

FYI
12/21/2016 at 3:15 PM

If you're waiting for a full equity payout, they're not mailing those out until the end of December. The ones mailed already are the dividends.
Whaz up
Joined: Apr 2005
Posts: 1070

Whaz up
Joined: Apr 2005
Posts: 1070

Got mine!!
12/21/2016 at 5:29 PM

Yesterday! Bought me a turkey and all the trimmings !! Merry Christmas and thank you WCG!'