Thursday, July 7, 2022

Early windfall for Ballance farmers

More than 18,000 New Zealand farmers are in for some good news this week as Ballance Agri-Nutrients delivers support for cash flows at the start of the spring season with an early and record rebate payment.

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.”

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