Co-operative $8.1m Distribution of
Dividend and Patronage Reward
Your Co-operative Board have decided to make a
distribution by way of a $6.3m dividend to all Ordinary
and Rebate Shareholders, as well as a $1.8m Patronage
Reward distribution. Combined this takes the total
distribution to qualifying shareholders to $8.1m.
The shareholder dividend equates to a net return of 5.5
cents per share fully imputed (7.6 cents per share gross).
The quantum of dividend reflects a tax paid return on
84 cents share price (as at 29/3/21) of 6.54% for
all shareholders.
The record date for the dividend is 16 April 2021.
The Patronage Reward will be distributed to shareholdersuppliers who are identified as eligible as at 31 December
2020 and who have an aligned shareholder-supplier
match. To be eligible, shareholder suppliers must
have supplied a minimum of 400 livestock units in the
2020 calendar year direct via our network of Livestock
Representatives. They will receive 5.7 cents per eligible
share fully imputed (7.9 cents equivalent gross).
Combined, the distribution of Dividend and Patronage
Reward reflects a tax paid return on 84 cents share price
(as at 29/3/21) of 13.28% for eligible shareholders.
We trust shareholders will see this as strong
acknowledgement of the commitment of all
Co-operative members, who, along with their
communities, and the New Zealand economy
as a whole, will benefit from this distribution.
The Share Standard
is based on the typical volume of stock units
that a supplier provides to Silver Fern Farms in
a calendar year.
A lamb/bobby/mutton represents
1 stock unit
a deer 6 stock units and
a cattle beast 12 stock units.
To qualify as fully-shared the following applies:
• For supply up to 5,000 stock units, the multiplier is 8
shares per stock unit, and over 5,000 stock units an
additional 3 shares per stock unit.
• Our largest suppliers only need to hold 200,000
shares in the Co-operative to be classified as
fully-shared