Ballance’s record rebate and dividend will start arriving in shareholders’ letterboxes this week as the co-operative pays out $65 million to shareholders six weeks ahead of schedule.
The co-operative announced a rebate and dividend averaging $65 a tonne last month and advised shareholders it would pay out earlier than usual to help shareholders with early season cash flows.
The rebate averaging $60.83 a tonne and a fully imputed dividend of 10 cents a share represents an average $6500 return to a fully-paid shareholder. It follows the record trading result of $92.6m delivered by the co-operative.
Chairman David Graham said it was very pleasing the co-operative could support shareholders in their push for more efficient production throughout the year.
“We are proud of the fact we have achieved a record result in a very trying year and, more importantly, in a year in which we led fertiliser prices down for New Zealand farmers.”