Customers of ProVision Partners Cooperative Will Get Patronage Payments
Wednesday, December 29th, 2021 -- 1:01 PM
(Wisconsin Ag Connection) Customers of ProVision Partners Cooperative will be getting patronage payments back after the company showed a profit above its expenses during the past year.
According to the Wisconsin Ag Connection, the co-op's board approved the payout of $2.6 million to about 4,600 eligible patrons. The distribution is part of an implemented non-qualified stock program that began in 2019.
For every $1,000 of patronage earned, 55 percent is being paid in cash to customers, with the remainder being held in their names as non-qualified equity.
ProVision Partners reported total sales of $202 million during its 2021 fiscal year, which ended on September 30.
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