Decision details

To endorse the decision of Welland Homes board to make charitable donations and dividend payments in accordance with the company’s dividend and charitable donations policy.

1. That the decision of Welland Homes Board to make charitable donations and pay a dividend to the shareholder is approved, in accordance    with the WellandHomes Dividend andCharitable DonationsPolicy
2. That the following charitable donations are made:

£91,173 to Citizens Advice South Lincolnshire

£6,000 to Active Lincolnshire

£3,200 to South Holland in Bloom

3.    That the necessary Shareholder resolution be passed.

The company is in a profitable position and the Board has decided to award charitable donations as well as paying a dividend to the shareholder, SHDC.

The charities are providing services to residents in the district, which support the authority’s corporate priorities.

The Company’s principal objectives relate both to the provision of much needed, good quality housing, and also to providing a financial benefit to the Council’s General Fund. Approving the Company’s proposed charitable donations will meet the latter objective.

The Company’s Dividend and Charitable Donations Policy requires the shareholder to approve the payment of the charitable donations (in accordance with the Company’s articles of association).

Endorsing the decision of Welland Homes Board will enable Welland Homes to make charitable donations to the proposed beneficiaries. This will eliminate the need for SHDC to support those beneficiaries during 2025/26, which will provide a financial benefit to the General Fund.

Not to approvethe decisionof WellandHomes Board,in whichcase the proposed one-off charitable donationswill notbe made.