KANSAS CITY, Mo. – Dairy Farmers of America, Inc., the nation’s largest farmer-owned dairy cooperative, has reported financial results for 2004.
Results include record payments to members, record revenues and a sixth consecutive year of member patronage payouts.
Increases. For the fiscal year ending Dec. 31, 2004, DFA payments to members increased 29 percent to a record $5.8 billion, up from $4.5 billion in 2003.
DFA also reported record revenues of $8.49 billion on sales, up from $6.93 billion in 2003, for an increase of 23 percent.
DFA marketed 57.2 billion pounds of milk for member and non-member dairy farmers in 2004.
Patronage. For the sixth consecutive year, DFA’s members shared in its earnings.
In September, members who marketed their milk through DFA in 2003 received $25.1 million in member patronage, of which more than $6.6 million in cash was paid to 16,501 farmers.
“Our outstanding financial results for 2004 translate directly into value for our farmer-owners,” said Tom Camerlo, chairman of the board of directors of DFA.
“They demonstrate that we have the right strategy in place, and that it is being solidly executed by our talented, farmer-focused management team.”
Highlights. Other financial highlights include:
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