The West Boundary Community Forest board had cut the latest dividend cheques for the City of Greenwood and the Village of Midway.
Each shareholder community is getting $100,000 from proceeds from sales of timber cut from the community forest.
In an interview with Vista Radio, manager Dan Macmaster says this payment came early because all their 2022 costs were in.
“We’ll take a look at how the logging market is for sales throughout the summer and hopefully be able to release another dividend in the fall,” Macmaster said.
Last year, both communities received $500,000 each for a total of $1 million (from 2021 sales)
Macmaster says there are a few factors with less money doled out this year.
In 2022, the dividend payment was only once – Macmaster anticipates two payments could happen this year that could bring the total close to what it was in 2022.
He adds a soft lumber sales market and permitting issues were also factors.
“We didn’t do a lot of logging in 2022. Permits were not ready for us on our end. We do a lot of very unique permits like fuel mitigation and wildfire protection and so sometimes those permits take a long time to get together,” he said.
But he says things are going well this year, they are “off to the races” and believes there may be some dividend cheques cut this fall.
“We will be able to do our annual cut no problem so I think that will show some good revenue whether it’s fall or next springtime to be able to distribute (dividends),” Macmaster said.
The shareholder communities use the money for various non-profits and for student bursaries.
As for the program, he calls it a “neat dividend” because the communities use the cash for tangible community items – the money’s not buried in general coffers.