Country Partners Reports Net Income of $13.3 Million for Fiscal 2021
Jan 24, 2022
Country Partners Reports Net Income of $13.6 Million for Fiscal 2021
Gothenburg, NE (January 12, 2022) – Country Partners Cooperative has completed its year-end audit for the period ending September 30, 2021. Total sales were recorded at $353 million. Local earnings were approximately $7.2 million and combined with regional cooperative patronage, partnership income and other one-time income items resulting in the $13.6 million of total net income.
The board of directors met on November 22 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 $7.7 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. “2021 has been a challenging year for our state, our communities and for our farmers and ranchers in particular. As we go forward as a company, 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. This board has aggressive goals to payout member equity and to put cash in the hands of our producers and owners. I’d like to thank our patrons for their business and we look forward to meeting our customers needs in the year ahead.”