TEQUESTA, Fla. (March 22, 2016) — Independent Tire Dealers Group L.L.C. (ITDG) passed two growth thresholds last year — 100 shareholders and $200 million in collective purchases — and disclosed a dividend payment to members from the group's associated captive insurance company.
With the growth in shareholders, ITDG's network grew by about 40 locations to more than 590 in 42 states, according to Michael Cox, president and CEO of the buying/marketing group.
Because of the growth in collective purchases, members and shareholders will receive $8 million in volume bonuses and dividends for the year, up from $7 million a year ago, Mr. Cox reported. Over the past 10 years distributions have exceeded $55 million.