Olymel owners pay out special dividend

by Meat&Poultry Staff
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MONTREAL, Quebec – La Coop Federee, Quebec's largest agrifood company and owner of meat packer Olymel, announced it would pay special dividends directly to members of a new pork producers' network, Filiere porcine, according to an Alberta Farmer report.

Coop Federee did not reveal the amount of the dividend Filiere members could expect. However, overall dividends to members and affiliates for the year ending Oct. 29, 2011, will total $36.5 million, triple the $11.5 million paid out the previous year, according to Alberta Farmer.

Coop Federee on March 5, posted overall net earnings for fiscal year 2011 of $79.02 million on $4.55 billion in gross revenue, up from $36.08 million on $3.95 billion in fiscal 2010.

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