The heatwave and drought in Sweden have eased but the situation for Sweden's farmers remains fraught. As part of Lantmännen’s support package, the first payment of around SEK 150 million has been made to its members.
To ameliorate that negative effects of the drought and to improve the situation for hard hit agriculture companies, Lantmännen put together a powerful support package for its members in the summer. One part of the package consists of an extra dividend, which has been paid to the members now in September, in line with the plan. Lantmännen has this week paid a total of SEK 145.6 million to its owners.
“I am really pleased to be able to announce that payment has been made in accordance with the plan we presented in August, and that the money is available in our members’ accounts today. Lantmännen's ability to take concrete actions is something I am proud of - this is the power of our farming cooperative,” says Per Lindahl, Chairman of the Lantmännen Board.
Members will receive notification of the extra dividend in their letterboxes today and this is also available in Lantmännen’s digital platform LM². Lantmännen members can check their respective payment in their savings account.
“Reduced income as a consequence of poorer harvests in combination with increased costs due to a roughage shortage and increased cost for feed, has made life tough for Sweden’s farmers. I am convinced that this first payment will ease the liquidity situation for our members,” says Per Olof Nyman, Lantmännen Group President and CEO.
The dividend that members have now received consists of an additional payment and dividend of two percent, based on trading with Lantmännen Agriculture Sweden over the first eight months of the year. As part of the support package, members will also get an extra discount and supplement on two percent of trading with Lantmännen over the remaining four months of the year. This payment will be made in early 2019.
The payment made this week was subject to the approval of all meeting delegates and an extraordinary association meeting was held to this end on 1 September, by letter. All 101 representatives signed the minutes, which meant the dividend could be implemented.
Read more about the Lantmännen support package at https://lantmannen.com/en/press-and-publications/news/lantmannen-announces-sek-220-million-support-package-for-swedish-farmers/.
Read more about the extraordinary association meeting at https://lantmannen.com/press-och-nyheter/pressmaterial/stamma2018/ (in Swedish).
For more information, please contact:
Per Lindahl, Chair of the Board, Lantmännen
Tel: +46 706 25 64 54
Per Olof Nyman, Group President and CEO of Lantmännen
Tel: +46 706 57 42 47
Anna Carlström, Owner Relations Manager, Lantmännen
Tel: +46 706 99 11 35
Lantmännen Press Office
Tel: +46 10 556 88 00