Red meat cooperative Alliance Group will be paying $5 million to some of its farmer shareholders.
The quarterly payments have been made to the co-op’s Platinum and Gold shareholders who supply 100% per cent of their livestock to the company.
Farmers are paid an additional 10c/kg for each lamb, 6c/kg for a sheep, 8.5c/kg for cattle and 10c/kg for deer. The payments cover the period January-March 2019.
David Surveyor, Alliance chief executive says its loyal shareholders are, and always have been, the backbone of the cooperative.
“Our co-operative principles state our farmer shareholders are at the heart of every decision we make and we reward them for their committed and consistent livestock supply.
“Alliance is focused on creating prosperity for farming families. That’s why every dollar we make is either delivered back to farmers or re-invested into the cooperative so we can continue to improve our performance and lift returns to shareholders.
“We are working to create a stronger cooperative as we continue our transition to become a world-class food and solutions business.”
Alliance Platinum and Gold shareholders are being encouraged to apply to attend Alliance’s inaugural Know your co-operative seminar in July.
The seminar will include presentations on a range of areas from members of Alliance’s executive leadership team and the board.
“This is an opportunity for some shareholders to gain a more in-depth understanding of Alliance,” says Surveyor.
“We hope those who attend will feel better informed about the cooperative and be able to share their knowledge with other farmers.”
The seminar from 3rd-5th July in Christchurch will be limited to a maximum of 10 people.