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

 


Farmlands announces $1.25-million bonus rebate

Media Statement October 4 2004

Farmlands announces $1.25-million bonus rebate

Rural retail co-operative Farmlands is returning an extra $1.25 million in bonus rebates to its shareholder customers for their ongoing support through a very challenging year.

Farmlands Chief Executive John Newland said retail continues to be a fiercely competitive business and the rural sector is no exception.

“The bonus rebate, going out this week, is Farmlands way of thanking our customer shareholders for their loyalty, along with their ongoing investment in the company. In June Farmlands also gave $100 of bonus shares to each of its 17,500 members.

“Customer shareholders who purchase their supplies from our retail stores also get to share our profits and it’s that co-operative ethos which is driving us to being a market leader,” Mr Newland said.

Bonus rebates have been paid in 10 of the last 11 years, with individual payments based on the amount members have spent at Farmlands. This will see some members receiving in excess of $4500.

Farmlands 2004 annual result will be announced on October 11.


Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news