Strong, Progressive, Supportive.
Glanbia Co-operative Society Limited
Glanbia Co-operative Society is Ireland’s number one dairy co-operative. Our strategic priorities are to be strong, progressive and supportive on behalf of all members and to continue to grow the value of the Society, sustainability over the long term, on behalf of our members and their families.
Glanbia Co-operative Society strategy is focused on value creation, by supporting our investments in Glanbia plc and Glanbia Ingredients Ireland (GII), and value distribution, through support for members and a progressive dividend policy.
The two main assets of the Society are a 36.5% shareholding in global nutrition group, Glanbia plc, and a 60% shareholding in Glanbia Ingredients Ireland (GII), which is Ireland’s leading dairy processor.
The Society actively supports members through the distribution of value created by its investments. In 2013 and 2015, a total of 30 million shares in Glanbia plc were distributed to Society members. In 2016 the Society paid total dividends of 52 cent per share to all members.
Using funds generated by the sale of 4 million Glanbia plc shares in May 2015, the Society created a “Member Support Fund”. With the approval of members, 75% of this Fund is being utilised to support active members, while 25% was distributed in the form of Special Dividends to all members.
On 9 March 2016, the Society and partners; the Ireland Strategic Investment Fund, Rabobank and Finance Ireland, announced the creation of a new €100 million ‘Glanbia MilkFlex Fund’. The Fund will offer flexible, competitively priced loans to Glanbia milk suppliers with loan repayments which can vary according to movements in milk price.
On 2 June 2016, the Society announced the creation of a €55 million Glanbia Advance Payment (GAP) Scheme that offers interest free cashflow support to member suppliers in periods when milk and grain prices are weak.
The Society Board has overall responsibility for the strategic direction and management of the Society and is comprised of 15 members; the Group Managing Director and 14 members appointed through the representative structure.