Dairymen In The Money

Northern Advocate, 19 July 1938, Page 12

Dairymen In The Money

Nearly £60,000 will be tils- | Iributecl among local dairy far* j mers tomorrow. The Hikurangi Dairy Company will pay out | £29,818 19s 3d, Maungatapere j £22,860 and Whangarei £4558 Us | 4d. In the Hikurangi and Maungataperc figures are included deferred payments and dividends as well as the ordinary monthly payout, while the Whangarei figure is only for the month’s payout. Owing to Whangarei's financial year not ending until June 30. the latter company's payout for the year cannot yet be ascertained. - On August 20. approximately £IO,OOO will be paid out from the Whangarei company. £7500 from Hikurangi and £6OOO from Maungatapere as a result of the Government’s recently announced additional payment. Hikurangi’s Figures. Suppliers to the Hikurangi Company will benefit by the distribution of £29.818 19s 3d. This amount compares with a total payout in June last year of £24.666 Is 3d. an increase for the current year of £5152 18s. This month's payout is made up of £3339 10s 4d as the ordinary advance for June on the basis of 1/1, 1/0J and Hid respectively for the three grades; a deferred payment of £26,016 16s lid; and a dividend of fully-paid up shares of £462 12s. The ordinary monthly payout compares with £3055 11s 7d for the same month last year on the basis of HOi for superfine, and 1- for finest. The increase for the month over June last year was £283 18s fid.

On August 20 the company will distribute a further payment of about £7500. this being the approximate amount received from the Government on the whole season’s supply at a price equivalent to id per lb. butterfat. This will bring the total payments for the season 1937-38 to 15.12 d for finest butterfat and 14.81 d for all grades, this being net cash received, exclusive of dividends and cream collections. £22,860 At Maungatapere. A total of £22.860 is being paid out by the Maungatapere Dairy Company, this amount including the ordinary monthly payout and the deferred payment over the whole season, the equivalent of 2.2596 d per lb. butterfat. It is anticipated that the payment from the Government will bo made available on August 20. Whangarei Will Score Next Month. The Whangarei Dairy Company will pay out tomorrow £4558 11s 4d as compared with £4402 12s 5d for June last year. The total make for June this year was 49 tons, compared with 57 tons for the same month in 1937, while the payout last year of 1/- and Had respectively compares with 12Jd and 1/- this year. Whangarei Company suppliers will have a windfall on August 20, when, in addition to the ordinary monthly payout there will be the distribution ol dividends, deferred payments, cream collection allowances, and the Government’s payment, the latter alone being estimated at £IO,OOO.