Alliance Group has distributed $5.2 million in loyalty payments to reward committed shareholders.
The quarterly payments 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 cover the period April-June 2018 and brings the total amount distributed to loyal shareholders for the season to date to $15m, an increase of 8.4 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 chief executive, said: “Alliance is New Zealand’s only 100 per cent farmer-owned major red meat co-operative and our purpose is to create prosperity for our farming families.
“In addition to the loyalty payments, Alliance also offers other benefits above the price on the day including through our yield mechanism, priority processing and store stock facilitation.
“The loyalty payments demonstrate the value we place on consistent and committed supply. Alliance’s profits are delivered back to farmers or re-invested into the business to continue to improve our performance and lift returns to our farmer shareholders.”
The $5.2m was distributed in shareholders’ bank accounts on July 31.
Alliance Group distributed more than $15 million in loyalty payments over the 2016/17 season.