Alliance Group has rewarded its committed shareholders with a distribution of $5.9 million in loyalty payments.
The quarterly payments, made today, have been made to the co-operative’s Platinum and Gold shareholders who supply 100 per cent of their stock to the company.
The payments are for the period January-March 2018 and brings the total amount distributed to loyal shareholders for the season to date to $9.8m, an increase of 4.7 percent compared to the same period of the 2016/17 season.
Farmers supplying 100 per cent of their lambs are paid an additional 10 cents per kilogram for each lamb, six cents/kg for sheep, 8.5 cents/kg for cattle and 10 cents/kg for deer.
David Surveyor, Alliance Group chief executive, says: “Alliance Group is 100 per cent owned by our farmer shareholders and we’re committed to offering a range of benefits above the price on the day including loyalty payments and yield contracts. We also provide other benefits such as priority processing and store stock facilitation.
“Our Loyalty Payments programme is a major part of our strategy to reward our loyal suppliers for their consistent and committed supply.
“Every cent Alliance Group makes in profits is delivered back to farmers or re-invested into the business to continue to improve our operational efficiency and ultimately lift returns to our farmer shareholders.”
Alliance Group distributed more than $15 million in loyalty payments over the 2016/17 season.