Dairy co-op members to share $10 million
NEW ULM, Minn. -- The dairy farmer-owners of Associated
Milk Producers Inc. (AMPI) will share $10 million in equity payments
this year. The cash will be paid to individuals based on the amount of
milk they marketed through AMPI.
In November, $6.5 million of members' capital retain investment was
distributed. This month's payment of $3.5 million is a result of
previously allocated earnings.
The payments to members also included AMPI's early equity revolvement
option. Members who are age 65 and retired from dairying can receive
their cooperative equity through an accelerated, five-year distribution.
"Distributing equity reaffirms the cooperative's focus on its mission of
maximizing the return on milk marketed and equity invested for its
members," said AMPI President and CEO Ed Welch.