Early Christmas present for Alliance farmers

Southland meat co-operative Alliance Group has announcd a pre-Christmas share bonus to farmer shareholders.

The wholly farmer-owned co-op issued 9.5 million bonus shares to more than 3,000 shareholders.

David Surveyor, chief executive of Alliance, said the bonus share issue rewards farmers by increasing their shareholding in the company.

"We are New Zealand's only 100 percent farmer-owned major red meat cooperative and our farmers tell us they value their ownership," he said.

"This bonus share issue is another example of Alliance acknowledging our farmers are at the heart of every decision we make," said Mr Surveyor.

He said the co-op is committed to returning as much value as possible to their farmers and continuing to invest for their long- term benefit.

"In addition to the bonus share issue, we also paid out a total of $14.63 million in loyalty payments over the 2017/18 season."

The bonus share issue is based upon the supply of lambs, sheep, cattle, calves and deer during the 2017/18 season.

Alliance will be holding its Annual Meeting  at The Hutton Theatre, Otago Museum, 419 Great King Street, Dunedin, on Tuesday December 18, beginning at 10:30am.