Stephen Allen to Step Down as Tatua Chair After 23 Years
Tatua chair Stephen Allen says he leaves the co-op with a deep sense of gratitude for the people who have contributed to its success.
The small Morrinsville processor has paid its farmer suppliers a record $12.30/kgMS for milk supplied last season. The previous season, it paid farmers $11.30/kgMS.
Tatua retained $2.90/kgMS for reinvestment last season compared to $1.35/kgMS the previous one.
Fonterra and Synlait have paid their suppliers a milk price of $8.22/kgMS. Fonterra also paid a dividend of 50c/share and recently returned another 50c/share to shareholders and unitholders, taking its total payout to $9.22/share-backed kgMS. Synlait also paid on average of $0.27/kgMS for incentives, taking its total average milk payment to $8.49/kgMS.
In a joint statement, Tatua chairman Stephen Allen and chief executive Brendhan Greaney say they are pleased to report that the business has had another good year.
“In deciding our payout, we have sought to balance the needs of our shareholders farming businesses, in an environment where costs have increased well beyond mainstream inflation, and our need to continue to invest in the business while also maintaining balance sheet strength.”
