Westland Milk Products has confirmed a payout of $6.04 per kg for the 2012-13 season.
On top of that, it's keeping back 30 cents per kg to help pay for a move into value added nutritional dairy products.
The payout puts Westland behind Tatua and Fonterra in terms of the cash returns to farmers for the past season.
But chief executive Rod Quin says it's still a sound result, considering the tough conditions it had to grapple with.
Westland is forecasting a payout range of $7.60 - $8 per kg.
