Friday, March 29, 2024

Early windfall for Ballance farmers

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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.
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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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