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PCCA to pay members $25.7 million.(NEWSLINE)
- Article from:
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Rural Cooperatives
- Article date:
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November 1, 2007
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Copyright informationCOPYRIGHT 2007 U.S. Department of Agriculture, Rural Business - Cooperative Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cash payments of $25.7 million to members were announced during the 54th annual stockholders meeting of Plains Cotton Cooperative Association (PCCA) in Lubbock, Texas. The payments consist of $12.1 million in cash dividends, $4.8 million in stock retirements and $8.8 million in retirement of per-unit capital retains.
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"Fiscal 2007 was another very successful year, with record performance in several areas," reported PCCA President and CEO Wally Darneille. "Although drought hurt cotton production prospects in several areas, we still reported net margins of $20.5 million from ongoing operations."
Among the year's highlights were record direct ...
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