MMPA Returns $1.5 Million Cash Patronage Refunds to Members
USAgNet - 03/13/2019
The Michigan Milk Producers Association has paid $1.5 million in cash patronage refunds to its dairy farmer members. The cash patronage returned includes 100 percent of the farm supply earnings and 25 percent of the milk marketing earnings.
"The nearly $6 million in patronage refunds and equity retirements we've recently returned to our member-owners speak to the financial strength MMPA," said MMPA General Manager Joe Diglio. "These patronage refunds are the earnings achieved from our
efforts on behalf of our member-owners."
All members who marketed milk through MMPA for fiscal year 2018 received a portion of the allocation. Cash patronage funds and equity allocations are based on the amount of milk each individual member farm marketed and on the supplies purchased
through the cooperative during the year in which the earnings were achieved. Under the current board policy, the non-cash balance of the equity allocation will be revolved back to the members in future years.
Michigan Milk Producers Association is a member owned and operated dairy cooperative serving approximately 2,000 dairy farmers in Michigan, Wisconsin, Indiana and Ohio.