12 Aug 2015

Fertile rebate for farmer shareholders

4:22 pm on 12 August 2015

Fertiliser co-operative Ravensdown is paying out a record rebate of $50 a tonne of fertiliser to its farmer shareholders.

Crops

Photo: 123rf

Ravensdown made an operating profit of almost $52 million for the year ending May.

It is paying out all that in rebates to farmers who bought fertiliser in the past year.

Chief executive Greg Campbell said it was timely for farmers.

"Particularly given a number of our shareholders, mainly in the dairy sector, are feeling the pinch.

"As a co-operative what we're looking to do is support them as much as we possibly can and obviously being in a position as a consequence of this strategy, we're in the position to do so."

It means a fully paid-up Ravensdown shareholder who applied 150 tonnes of fertiliser will receive $7,500 in a cash rebate in August, instead of the traditional September payment.

Mr Campbell said Ravensdown had also become debt-free, after owing $355 million in 2012.

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