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Thursday 22 February 2018

Dairygold agree €7.5 bonus plan

Pictured at the Dairygold Co-op in 2013 were Bertie O'Leary, Dairygold Chairman and Jim Woulfe, Dairygold Chief Executive - the Dairygold board has agreed a €7.5M bonus package. Photo: O'Gorman Photography.
Pictured at the Dairygold Co-op in 2013 were Bertie O'Leary, Dairygold Chairman and Jim Woulfe, Dairygold Chief Executive - the Dairygold board has agreed a €7.5M bonus package. Photo: O'Gorman Photography.
Declan O'Brien

Declan O'Brien

Dairygold board has agreed a €7.5m bonus package for its 3,000 milk suppliers and customers for 2013.

The 2013 year-end bonuses comprise a 0.5c/l payment on all contracted 2013 milk supply, a €7/t rebate on all compound feed purchased and a €5/t rebate on all fertiliser purchased.

"Following a very successful year, the substantial bonuses are fully in line with the co-op's ethos," said Dairygold's chairman, Bertie O'Leary.

"The board's decision to award these substantial bonuses also recognises the great loyalty shown to the co-op in an expensive and challenging year for many of our farmer members, with significantly more farm inputs required, leading to record levels of feed purchased," Mr O'Leary added.

However, Dairygold sources said the bonus payments would be confined to those suppliers who have signed milk supply contracts.

The co-op has also insisted that it will retain proposed levies on all 'new milk' to be processed from 2015, even though Glanbia has decided to scrap plans for a 2c/l levy on all extra milk that comes on stream once quotas are abandoned.

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