BUTTER BONUS

Sun (Auckland), Volume I, Issue 123, 15 August 1927, Page 13

BUTTER BONUS

NEARLY HALF A MILLION DAIRY COMPANY’S PAYMENT MR. GOODFELLOW’S STATEMENT At the end of this month the New Zealand Co-operative Dairy Company, Ltd., will pay out its annual bonus amounting to £475,000, exclusive of share caiis. This is £63,000 more than the amount distributed at the same date last year. In an interview this morning Mr. Wm. Goodfeiiow, managing director of the company, stated that the company’s annual bonus, covering butterfat supplied during the past season, would be paid out at the end of this month to the extent of the sum mentioned below. He said that all the butter suppliers to the company would receive the following payments in cash:' — October, 2 1-Sd a lb butter-fat; November, ditto; December, ditto; January, 1 l-8d a lb butter-fat; February, 2 l-8d a lb butter-fat; March, 3 l-8d a lb butter-fat; April, 3 l-8d a lb butter-fat. As May is part of the company’s winter season the cash bonus for that month will be payable later. In addition to the above amounts all the company’s butter shareholding suppliers will receive a share bonus of three-farthings a lb butte,r-fat for the whole season, that is, from June, 1926, to May, 1927, which will be paid in cash in all cases where shares are fully paid up. Mr. Goodfeiiow also stated that the company’s cheese factories had done well, tho four best factories having returned the following average price lor the season:-—East Tumaki. 18.41 d a lb butter-fat; Shelly Beach, 17.41 d a lb butter-fat; Matamata, 16.83 d a lb butter-fat; O-rini, 16.75 d a lb butter - fat.

Out of the 14 cheese factories operated by the company during the past season, the lowest return was 16.06 d a lb butter-fat. The cheese suppliers will also receive this bonus payment at the end of this month.