£4 million bonus for Milk Link members
MILK Link members will receive a bonus this week, after the processor confirmed a processing interest payment for the 2010/11 financial yearequating to a 9.25 per cent return on their qualifying loan balances.
To be paid early next week, the average payment will equate to 0.41ppl across the total volume of milk supplied in the year. It will mean that a long standing co-op member producing one million litres will receive around £4,100.
It is the fifth year in a row that processing interest has been paid.
“The 2010/11 payment demonstrates the solid performance of the business over the last financial year despite the difficult economic and trading conditions all in the dairy industry have faced,” said chief executive Neil Kennedy.
The latest payment is the first made since the end of the 0.5ppl investment levy for long standing members.