The Co-operative Group has reported an 11 per cent rise in profits, boosted by profits from the newly acquired Somerfield outlets.
Chief executive Peter Marks, describing his business as "rejuvenated", has announced record results.
The Co-op's three million customer members will share £50m - a £5m rise in member dividend payout - as the company recorded pre-tax profits of £217.6m in the year to January 10.
Sales at its supermarket business rose five per cent on a like-for-like basis, excluding fuel, as sales from its Somerfield stores helped figures. Sales for the first quarter rose 6.5 per cent.
Overall, Co-op food sales rose 23 per cent to £4.5 billion, lifting food profit 38 per cent to £219m on last year.
Payments to members will be paid out after final approval following The Co-op's annual meeting, and will be based on their spend within the group over the year.
The Co-op said it was profiting from local shopping as cash-strapped customers save on fuel costs and looked to its convenience store format.
Its £1.56bn takeover of Somerfield helped strengthen its position behind the 'big four' supermarkets, while also boosting total group staff numbers to around 110,000 working across 4,900 retail outlets.
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