By Curtis Galbraith

Agriculture

UFA paying out record patronage dividend

Mar 22, 2023 | 2:39 PM

UFA has announced what it is calling a historic patronage dividend.

The company says it is giving a total of $28 million back to its members.

UFA says this is the sixth straight year it has given a patronage dividend and the $28 million is a 56 per cent increase from last year.

“One of the primary benefits of being a cooperative member is patronage, and this year’s patronage dividend is truly significant. We have expanded our patronage program to reward our membership by paying on more categories of purchases. More products our members use daily on their farms, ranch, or for their business now earn them patronage rewards. We are proud to grow and deliver patronage consistently. At UFA, members can count on their co-operative and on patronage,” says president and CEO Scott Bolton in a release.

The dividends on a minimum purchase of $5,000 break down to six and five cents per litre on different types of diesel, a cent a litre on gasoline, and three per cent on other purchases. That does not include fertilizer or micronutrients for crops.

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UFA is also expanding into Saskatchewan. New facilities have already opened in Weyburn and Yorkton with new ones also planned for Saskatoon.

There is also a new one going up in Dunmore, Alberta which is located east of Medicine Hat. It will replace a facility located in Medicine Hat.