Feed and Fertilizer bonuses paid to Co-op members

Feed and Fertilizer bonuses paid to Co-op members

Milk suppliers that are Members of Glanbia Co-operative Society have recently been paid a bonus of €7 per tonne of feed or fertilizer purchased from Glanbia. These payments are being made in recognition of the custom of members during a particularly challenging year in farming.

A further bonus payment will be made in early 2017 in respect of feed and fertiliser purchases during November and December 2016.

Meanwhile, in November, Glanbia Co-operative Society completed the distribution of a 16.7 cent per share Special Dividend to all members.

This payment of €6.7 million represented part of the proceeds of the €67.4 million raised by the Society following the Special General Meeting (SGM) held in Gowran Park in May 2015, where members approved a €67.4 million Member Support Fund through the sale of four million shares in Glanbia plc.

In May 2016, the Co-operative paid a Special Dividend of 25 cent per share to all shareholders. The two Special Dividends paid in 2016 are in addition to the Ordinary Dividend (Share Interest) of 10 cent per share that was approved at the Society’s Annual General Meeting on 5 May and paid in July 2016. This brings total dividend payments to Glanbia Co-op shareholders in 2016 to 52 cent per share.

All dividend payments were made directly to the bank accounts of Society members that have provided banking details to facilitate such payments. Society members who have not provided banking details to the Society and wish to avail of any other outstanding payments should contact the Society Shares Office (058-22241 or email [email protected]).

First Published 12 December 2016