Despite the unusual weather patterns of this year and the effects that has had on crop production, Country Partners Cooperative CEO Tod Clark said it has been a successful year for the company. Since the business is a cooperative, members will see some of the benefits of that success being generated back to them.
In a press release issued by the cooperative on Nov. 21, Clark said the board of directors met on Nov. 19 to derive a plan for distribution of the earnings and set the rates for patrons based on the revenue from the year. The audit has been completed for the fiscal year ending Sept. 30, with total recorded sales for the year at $282 million. .
The board will be allocating more than $5.8 million to customers in patronage dividends, with checks being mailed sometime after Jan. 1. Clark credited the employees and Country Partners member owners for their hard work in making 2019 a successful year.
"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," Clark said in the press release.
Tim Rowe, chairman of the board of directors, said the board is very pleased with the financials and company performance 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," Rowe was quoted in the press release.