Glanbia announces €60m support package for members
Glanbia has announced a €60m support package for its members, subject to approval at its upcoming AGM.
The total package of measures includes:
• 30pc increase in 2018 Ordinary Share Interest (Co-op dividend) to 13 cent per share;
• €20m Patronage Support Fund for active Members; and,
• 2018 Glanbia Advance Payment (GAP) Scheme €38m.
The co-op said the proposed package is designed to increase cash flow to its Members by up to €60m. The measures include proposals to increase the ordinary share interest (Co-op dividend) by 30pc and a new Patronage Support Fund of €20m for active Members as well as the launch of the 2018 Glanbia Advance Payment Scheme.
Members of Glanbia Co-op will vote on the proposals related to the Co-op dividend and the Patronage Support Fund at the upcoming Annual General Meeting (AGM) of Glanbia Co-op which takes place at Newpark Hotel, Castlecomer Road, Kilkenny on Wednesday, May 30.
Ordinary Share Interest (Dividend)
The Board of Glanbia Co-op will be recommending to the Co-op’s AGM a significant increase in the Co-op dividend paid to all Members. If approved by Members, the Co-op dividend will increase by 30pc to 13 cent per Glanbia Co-op share (the ordinary dividend in 2017 was 10 cent per share).