United Farmers Cooperative held its Annual Meeting at the York Auditorium on November 18th and reported another year of exceptional financial performance. Board Chairman Doug Moon thanked the members for their business as he reported record sales of $708.7 million and total profits over $14 million for the fiscal year completed July 31, 2013. Moon stated, “The cooperative prides itself on being the best place for its owners to do business and to provide the best services in the area. The success of UFC in 2013 is a direct result of the patron’s continued support and the hard work of a dedicated employee group.”
CEO Carl Dickinson shared his vision for the cooperative’s continued focus on being early adopters of emerging technologies that will deliver improved efficiencies and greater profits to its producer owners in the immediate future. Dickinson also detailed his thoughts on UFC’s recent financial performance. “Your cooperative has generated value creation of more than $50 million over the past four years in the form of cash returned to members and increased net worth,” Dickinson expressed, “with total patronage dividends of $6.6 million in 2013, of which $3.7 million (56%) is being distributed to our members in cash. Total cash returned to the members this year is a record $6.2 million. The Net Worth of your cooperative now exceeds $83 million, with more than $33 million in working capital available to assure efficient operations, invest in equipment and facilities, plus respond to new opportunities as they arise in the marketplace.”
United Farmers Cooperative would like to thank all who attended another successful Annual Meeting and who contributed to another successful year!!