Almost €5m will be paid out to shareholders in Dairygold this year.They will receive €700,000 in loan note repayments and €4.2m will be returned to shareholders from the co-op’s revolving fund.
Almost €5m will be paid out to shareholders in Dairygold this year.
They will receive €700,000 in loan note repayments and €4.2m will be returned to shareholders from the co-op’s revolving fund.
This week, cheques will be issued to Dairygold shareholders who invested in the co-op’s optional loan notes since 2013.
In total, €700,000 will be repaid to these investors, which will be the final tranche of repayments from the loan note investment.
In August 2020, Dairygold will commence the first tranche of repayments from its revolving fund by repaying €4.2m to shareholders
Dairygold’s loan notes were a five-year investment and carried an annual interest rate of 4% on top of the Euribor rate.
In comparison to interest rates today, this has turned out to be quite an attractive investment for shareholders who took up the offer.
In August 2020, Dairygold will commence the first tranche of repayments from its revolving fund by repaying €4.2m to shareholders.
Contributions to Dairygold’s revolving fund ceased last year and this money will now be paid back in tranches to shareholders
Dairygold established its revolving fund in 2013 and raised €23.5m from its farmer shareholders to fund its expansion programme.
Contributions to Dairygold’s revolving fund ceased last year and this money will now be paid back in tranches to shareholders over the coming years.
The €4.2m being returned this year includes interest of €600,000, based on an interest rate of 2.5%, along with the Euribor rate over the last seven years.
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