Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Ballance Share Value Increased

Ballance Share Value Increased

Ballance Agri-Nutrients shareholders today unanimously approved an increase in the co-operative’s share value from $5.70 to $6.00 at its Annual General Meeting in Taupo.

Chief executive Larry Bilodeau said the increase was founded on two solid years of good results for the company and follows a previous increase from $5.50 to $5.70 in 1997, and a bonus share issue in 1999.

“The very essence of a co-operative is to reward shareholders for their active participation in the company and with solid support from them on the trading side, we have strengthened the capital base which has allowed the revaluation.”

Chairman Peter Jensen said the meeting was well attended with the two directors who stood for re-election, Frank Peacocke from Waikato and Owen Buckingham from Southland, re-elected unopposed.

Ballance reported a $50.4 million Group Operating Surplus for the year to 31 May, up 17% on last year. Good farming conditions throughout the year, plus production and transport efficiencies were attributed as the major reasons behind the record result.

Distributions to shareholders averaged $23.40 per tonne cash for fully paid up shareholders, also an increase of 17% over last year, made up of a rebate on purchases averaging $18.03 per tonne of fertiliser purchased over the year and a fully tax imputed dividend of 12 cents per share making a total of $23.4 million distributed to shareholders.

Mr Bilodeau said that with falling farm returns forcast for the coming year, “it will be a challenge to match this year’s performance. However, shareholders can be assured that Ballance will be playing its part in continuing to grow returns for our shareholders and helping maintain New Zealand’s position as a global agricultural leader.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>