Country Partners Cooperative has completed its year-end audit for the period ending September 30, 2019. Total sales were recorded at $282 million. Local earnings were approximately $2.6 million and combined with regional cooperative patronage resulted in the $6 million of total net income.
The board of directors met on November 19 to arrive at a plan for the distribution of earnings and the patronage rates as a result of the successful year. Patronage checks will be mailed sometime after January 1 as per the normal procedure. Over $5.8 million in total will be allocated to customers in patronage dividends.
“Thanks to the hard work of the employee group and the support of our Country Partners member owners, we are pleased to report a successful and profitable year,” said CEO E. Tod Clark. “2019 has been a challenging year for our state, and for our farmers and ranchers in particular. Managing costs and emphasizing performance in all our business segments will continue to be a top priority, while ensuring that we are meeting the needs of an ever-changing set of customers and helping improve their profitability.”
Chairman of the Board Tim Rowe added, “The Board of Directors is very pleased with the company’s earnings with the challenges that we all have lived through this past growing season. We have reviewed our financials and company performance and are proud to be able to pay out patronage to our patrons through this challenging year. This board has aggressive goals to payout member equity, to put cash in the hands of our producers in these economically difficult times. Since 2016, Country Partners has allocated over $10.8 million to member owners in patronage. Total cash payments of patronage and deferred equity since 2016 is over $8.9 million.”
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