Members to receive record patronage revolvement
NEW Cooperative is pleased to announce the 2019 Patronage Rates for its member owners. For the recent August year-end, NEW Cooperative is allocating 10 cents per bushel of grain sold and 5.5% on agronomy purchases of which 50% will be returned in cash. This coupled with an additional deferred equity revolvement brings the total cash returned to its members to 21.1 million dollars and equal to 100% of the company’s earnings generated by local operations of the member-owned cooperative this past year.
“NEW Cooperative believes that during these challenging times in agriculture it is important to return earnings in the form of patronage back into the hands of our members as soon as possible” stated NEW Cooperative General Manager, Dan Dix.
NEW Cooperative appreciates our members’ support and we look forward to continuing to serve our member owners and their farming operation needs.
Below you will find a link with more details on the patronage rates: