Early rebate for Ravensdown shareholdersSave
Ravensdown is again returning an early interim rebate to shareholders of $20 cash per tonne (for solid fert purchases between June 1, 2016 and May 31, 2017) to be paid to shareholders early June.
The announcement is being made ahead of the autumn buying season, giving farmers the confidence to plan ahead.
"By guaranteeing an early interim $20 per tonne cash rebate ahead of the autumn buying season, we are able to give farmers greater confidence to invest in their capital inputs. It's about passing on value when it's needed, which is a part of our strategy to help our shareholders farm with greater certainty," says Mike Davey, Ravensdown's Regional Manager.
The farmer-owned co-operative's strong profit forecast position at the end of February, in addition to progress made over the past four years has meant an early interim cash rebate is possible.
"In uncertain times it's important to give farmers certainty when we can, which is why we're delivering another early interim rebate."
Last year, Ravensdown broke tradition by announcing in May that they were paying an interim rebate of $21 per tonne in the first week of June, which was received well by shareholders.
This was however at the end of the autumn buying season, which is why they've decided to bring the announcement forward, ahead of their annual results.
Ravensdown credits their strong position and ability to challenge the status quo to a strong and positive team which has made significant progress in the face of an uncertain market, making gains in new business and sales.
"Our strategies and financial gains in all areas have created a positive momentum internally and in our agronomy markets, which we will continue to leverage for the benefit of our shareholders," Mike says.