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, sustainably 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 Ireland (GI), and value distribution, through support for members and a progressive dividend policy.
The two main assets of the Society are a 31.5% shareholding in global nutrition group, Glanbia plc, and a 60% shareholding in Glanbia Ireland (GI), which is Ireland’s leading dairy processor.
The Society actively supports members through the distribution of value created by its investments. The total value of supports paid to Co-op Members during 2019 in respect of milk and grain supply as well as feed purchases was €22.5 million and was funded from support funds approved by Members at our Special General Meetings (SGMs) in May 2017 and May 2018.
On the establishment of Glanbia Ireland (GI), Members overwhelmingly voted that the dividends from GI would be ring-fenced within the Co-op for active farmer Members. In 2020, milk supplier Members of Glanbia Co-op will receive a 0.4 cent per litre (cpl) payment each month on all milk supplied as their “Share of GI Profit”. This payment to Members is adjusted to reflect the actual constituents of the milk delivered.
The 2020 Trading Bonus Scheme was launched as a mechanism for paying the dividend from GI back to active Members. The 2020 Scheme is similar to the 2019/2018 Schemes and rewards Members on the basis of the level of trade they undertake with the business that they majority own.
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.
Glanbia Co-operative Society Limited results and announcements available here.