INDEPENDENT NEWS

Primary Wool Cooperative announces dividend payment

Published: Wed 27 Feb 2013 01:56 PM
26 February 2013
Primary Wool Cooperative announces dividend payment
Primary Wool Cooperative announces that on February 19, 2013, the Directors approved the payment of a 10% dividend to members. This comes on top of the annual 3 cents per kilogram rebate and last year’s 5% dividend, meaning that over the past 3 years, rebates and dividends have totalled an impressive $1.1M. These rebates and dividends, along with significant funding of industry-good activities such as the Campaign for Wool, demonstrate some of the ways Primary Wool Cooperative is delivering real benefit to the industry.
This is more good news for Primary Wool Cooperative, with the Just ShornTM brand being successfully rolled out into over 480 carpet retailers across North America and Canada on February the 18th 2013.
The Coop and its joint venture partner Elders Rural Holdings, believe Elders Primary Wool can lead the way with their wool marketing initiative, placing the Just ShornTM brand in ‘Carpet One’ and ‘Flooring America’ stores. These stores are the largest and most experienced flooring retailers in the North American and Canadian markets. This programme is the culmination of 4 years investment by Elders Primary Wool into the Just ShornTM New Zealand wool carpet branding initiative, designed to increase returns to growers.
“Building the Just ShornTM brand is one of the most innovative and commercially sensible ways we can serve the wool industry in the marketplace,” says Bay de Lautour, Primary Wool Cooperative Chairman. “The time is right for us to now pay our second cash dividend in successive years. This dividend is the result of our leading position and is an important part of our commitment to bringing value to the growing number of coop members”.
About Primary Wool Cooperative Limited (PWC)
Primary Wool Cooperative Limited (PWC) was formed by a group of local farmers in 1974 to increase the returns for wool growers. Over the ensuing decades, membership has grown to nearly 1,000 and significant investment and involvement has been made in the NZ wool industry. The proven grower owned and controlled cooperative structure remains paramount.
PWC has a 50% shareholding in Elders Primary Wool (EPW) and two PWC Directors sit on the EPW Board to actively represent the interests of Cooperative members. International market access through the marketing initiatives of EPW direct to the lucrative American consumer market will help to continue the objectives that were present at the Cooperative’s inception – increased returns for wool growers.
Cooperative membership delivers significant benefits to wool growers. Members not only get a reduction on charges but also increased prices for quality wool and a share in the profits of Elders Primary Wool.
About CCA Global Partners Inc
CCA Global Partners® is a privately held cooperative based in the United States with member businesses in the U.S., Canada, Australia, and New Zealand. For nearly a quarter of a century, CCA Global has partnered with entrepreneurial businesspeople to create a cooperative retail powerhouse unmatched in the marketplace. With 14 independent business brands and more than 2,700 locations, CCA Global Partners® is well positioned to positively impact the success of independent businesses. For more information on CCA Global Partners®, go to www.ccaglobal.com.
About Just ShornTM
Just ShornTM is a registered trademark of Wool Marketing Enterprises Limited. Just ShornTM branded carpets are produced under license from premium, sustainably grown New Zealand wool. Wool Marketing Enterprises is owned by Elders Primary Wool which is a 50/50 joint venture between farmer-owned cooperative, Primary Wool Cooperative Limited; and an agribusiness corporation, Elders Rural Holdings Limited. For more information on Just ShornTM,, go to www.justshorn.com.
ENDS

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