GGC Board Approves $0.13/Unit Distribution

On September 16th, the Golden Growers Board of Directors approved a distribution of $2,013,762 to members of record as of October 1, 2021. This distribution retires a portion of 2019 allocated income. In combination with the February and June distributions, a total of $6,041,286 has been issued to members in 2021.

Over the past few years, the GGC Board built a reserve in preparation for capital expenditures at the plant. In anticipation of capital expenses for the pre-dryer repair and the first phase of the distributive control system (DCS), ProGold has reduced distributions to Golden Growers. Golden Growers is able to continue distributions because the GGC Board built a reserve during the course of this lease.

This distribution authorized by the Board will result in a remaining equity credit balance for 2019 of $117,283 and a 2020 equity credit balance of 3,634,526 totaling $0.24/bushel. (Note: This balance does not constitute an outstanding obligation for GGC.)