On June 17th, the Golden Growers Board of Directors approved a $0.13/Unit distribution of $2,013,762 to members of record as of June 1, 2021.
This distribution will retire a portion of remaining 2019 allocated income. With this distribution, the remaining equity credit balance is $5,765,571 or $0.37/bushel. This balance is useful in determining per Unit basis levels and does not constitute an outstanding obligation for GGC.
It has been the GGC Board’s goal to level out distributions through the current ProGold lease. They estimated capital expenses, the timing of payment for capital projects, and declining lease payments. As we get closer to the end of the lease and capital expenses become clear, the Board will likely make adjustments to assure that payments to members do not exceed reserves and revenues at the end of the current lease.
Golden Growers has issued payments to members totaling $119,959,432 or 222.3% of the original investment in the ProGold plant.