May 27, 2022
NAMPA, IDAHO – Valley Wide Cooperative and Valley Agronomics, the largest local farmer-owned cooperative in the Pacific Northwest, recently announced its combined distribution of $8.2 million in total patronage allocation, the largest in the co-op’s history. This payment will go to more than 3,000 patrons in Idaho, Washington, Oregon, Utah, and Nevada. Of that $8.2 million, $2.5 million will be distributed in cash, and the balance in equity. On average, Valley Wide distributes 2% patronage on purchases made with Valley Wide and Valley Ag.
Extra payment during stressful circumstances
In addition to annual patronage, Valley Wide Cooperative’s Board of Directors also approved a stock retirement of $4.5 million, of which $2 million is a special redemption of the current year’s equity. This redemption will be paid directly to membership to help with rising input and production costs. Valley Wide CFO, Ben Faulk says, “Our members commitment to Valley Wide and Valley Agronomics over the years – through the good times and lean times – has given Valley Wide the balance sheet to declare this special redemption at a time our members are experiencing inflationary costs, as it relates to fuel and fertilizer.”
As owners of the cooperative, Valley Wide members share the financial success of the cooperative through patronage dividends, including these special redemptions that the board has approved during stressful circumstances, like the COVID pandemic and the current economic situation.
Since 2010 member-owners, and patrons of Valley Wide Cooperative and Valley Agronomics have received $45 million back in patronage and stock retirement.
About Valley Wide Cooperative:
Since 1920 Valley Wide Cooperative has empowered agricultural members to increase their bargaining power and gain market share to achieve economies of scale through its four divisions of business: Agronomy, Energy, Feed, and Farm Supply Stores.
Media contact: Erica Louder, 208-731-3863 firstname.lastname@example.org