herald

Sunday 17 December 2017

Windfall in store for dairy farmers

agriculture

Between 8,000 and 9,000 farmers are set for an average windfall of €15,000 each after the Glanbia co-operative society said it plans to return a total of €238m to shareholders by reducing its stake in the dairy giant.

The society, which currently owns 38pc of Glanbia plc, is planning to hand over 10 million shares worth about €170m in the stockmarket-listed company to its 16,000 members, around half of whom are diary suppliers. It will leave the co-op owning 36.5pc of Glanbia.

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