Alberta Wheat Pool’s last hurrah is an $18.9 million parting gift for farmer members.
As the pool signed off last week and became Agricore with Manitoba Pool Elevators, a healthy financial picture was presented to delegates who sat at their last pool meeting Oct. 30.
“It’s another good year for Alberta Wheat Pool,” said acting president John Pearson.
Farmers will be receiving $18.9 million in patronage in cash and equity.
The cheques are being written for $3.2 million, which farmers can expect to receive within the next few weeks. About $2.5 million will be deducted as prepaid taxes for the members and the remaining $13.2 million becomes member equity refunded over time.
Patronage is allocated on the amount of business farmers conducted with the pool in grain handling, special crops or farm supplies. The refund is five percent of their business.
In the last three years, the pool has returned $62.2 million in cash and member equity. Members have about $250 million equity in the company.
