Glanbia Co-op to pay out €6.5 million dividend

Glanbia Co-operative Society will this week distribute €6.5 million in Ordinary Share Interest (Dividend) to eligible Members.

The Co-op’s Annual General Meeting (AGM) on 25 May approved a Share Interest (Dividend) payment of 17.3 cent per share (totalling €6.5 million) for 2022, which is 5% higher than the previous year.

Glanbia Co-op chairman John Murphy said that the Board is very conscious of the importance of a progressive dividend policy to Co-op Members. “Our Co-op share interest (dividend) payment has increased by 73% since 2017,” he said. “Total share interest of €45.8 million or €1.26 per share has been paid in that period,” he added.

Glanbia Co-op Chief Executive Jim Bergin said that work is progressing on the completion of the previously announced spin-out of 12 million Glanbia plc shares to Co-op Members.

Members with any questions regarding the payment of their Share Interest or Spin-out should contact the Glanbia Co-op Shares Office on 058-44444.

€96m paid early for June milk

Meanwhile Glanbia Co-op confirmed that €96 million was paid to milk suppliers around 10 days early under the Co-op’s new twice-monthly milk payment model.

Around 50% of the payment due to milk suppliers for June milk was transferred into farmer suppliers’ bank accounts in recent days. Details of individual payments is available on GlanbiaConnect.com.

The remaining balance due to milk suppliers for June milk will be paid on Monday, 25 July.

Milk suppliers are advised to check their banking arrangements to ensure a smooth transition to the new process.