DFA ISSUES $26 MILLION IN PATRONAGE EARNINGS TO
MEMBERS
KANSAS CITY, Mo. – Dairy Farmers of
America, Inc.’s (DFA) Board of Directors has allocated 2009 patronage
earnings, with checks slated to reach members this week. Members who marketed
their milk through DFA in 2009 will receive a total of $26.4 million, with $7.6
million distributed in cash and the balance allocated to members’ equity
accounts.
Patronage is the Cooperative’s way of sharing
DFA’s earnings with its members. The amount of patronage a member receives
each year is based on the amount of member milk marketed through the
Cooperative. This allocation is equal to 7 cents per hundredweight of milk
marketed in 2009.
In keeping with DFA’s base capital plan, members
who have achieved the established base capital level will receive 100 percent of
their share of earnings in cash. Those who have not will receive a portion of
their earnings in cash, with the balance added to their capital accounts.
“Annual patronage payments are a special benefit
of Cooperative membership,” said Randy Mooney, DFA Board chairman. “Beyond
milk marketing activities and services that help our farmer owners improve their
bottom line, patronage checks are one more important way that DFA delivers value
to its members.”
Combined with special payments totaling $18.3
million in July and October 2009 to help offset economic hardships, DFA
members’ total 2009 cash earnings were $25.9 million.
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