On June 10th, the Golden Growers Board of Directors approved a distirubtion of $2,168,667 to member of record as of June 1, 2019. This distribution retires an additional portion of 2017 allocated income and is to be issued no later than June 30th. This distribution authorized by the Board will result in a remaining equity credit balance of $5,547,469 or $0.36/bushel.
Golden Growers has issued payments to members totaling $107,567,048 or 199.3% of the original investment in the ProGold plant.
The GGC Board made a decision to build a reserve in preparation for capital expenditures like major repair of the finish dryer or the replacement of the Distributive Control System. GGC must also be prepared for the potential that Cargill may exercise its option to purchase 50% interest in ProGold.