2020 Equity Retirement

       Dennis Sommerfeld retired Board member                      Lyle Breberg past Director from 1996 

March 12, 2020

 

Dear Patrons:

The Board of Directors of Dawson Grain Coop, at their March 2nd Board meeting approved the retirement of $248,580. This retirement of equity will pay the years of 1998 and 1999 of all local and regional credits held by Dawson Grain Coop. As a result of this retirement the check enclosed represents your share of this retirement.    

Please remember that this retirement does not need to be reported as income the taxes have already been paid.

The 3 main things your Board of Directors has to decide what to do with earnings each year are.

            1) Debt repayment

            2) Capital expenditures

            3) Retirement of patron equity's

 

Over the years we have built our balance sheet and facilities up to the point that we now feel equity retirement may be reviewed and paid annual as seen fit by the Board of Directors.

With this equity retirement and cash paid out in September $421,479 of cash has been paid out this year. That represents 70% of your company's total 2019 earnings.

Your Board of Directors are happy to know that after 133 years we still provide a service to the area as well as cash from earnings back into the local economy.

If you have any questions on this retirement please call the office at: 320-769-2929.

 

Sincerely

Mark Willand

General Manager

Dawson Grain Coop