At UFA we work hard to have the products, services and trusted support our members need. Last year, being there for members and customers took on special meaning. While the pandemic forced us to be apart, it also brought us together like never before.
“As a member-owned agricultural co-operative, it is our responsibility to support the members who continue to get the job done, even during a pandemic. The business of agriculture cannot stop for anything, and we stood together with our members to face unprecedented challenges,” says Scott Bolton, UFA President and Chief Executive Officer.
We are proud to share that during today’s 2021 virtual annual general meeting, UFA delegates approved a patronage dividend of $14.2 million.
The patronage payment is for 2020 purchases in the following categories: Ag Gas (1.3%), Ag Diesel (6.6%), Canola and Corn Seed (1.6%) and the following lubricants: 18.9L pails of Spirax S4 TXM, Rotella T4 15W40 and Rotella T6 5W40 (5%).
In addition to the patronage dividend, our co-operative is proud to report $1.2 billion in financial revenues and $64 million in earnings before interest, taxes, depreciation and amortization (EBITDA).
“Serving our members and customers is the driving force of UFA and paying patronage to those who keep the agriculture industry moving has never been more important. We are honoured to demonstrate our commitment and gratitude with this year’s patronage return,” says Bolton.
During the year, your co-operative also continued to invest in its core businesses. UFA continued to expand its Dieselex Gold® offering and partnered with GrainsConnect Canada to bring an exciting pilot program, offering growers the chance to maximize returns with a discount on seed and receive competitive pricing with a premium on their production contract. Bar W, a subsidiary of UFA, opened a new All Peace Petroleum site in Spruce Grove, enhancing the service offering to customers of the downstream maintenance and construction business, as well expanding its tank rentals and sales. UFA demonstrated its commitment to streamlining the overall customer experience with a new point-of-sale system, introduced in early 2020; and in December, launched its e-commerce site. Implementing comprehensive measures to protect the health and safety of its teams, members and customers, while ensuring they remained open for business, was a priority for UFA.
“Spring is just around the corner and with that comes renewed optimism. Seed must go in the ground. Calves will be born. Fuel will be delivered. It’s time to reset and move forward and we will continue to drive profitability in 2021. We will grow and invest in your co-operative in order to provide you with the service and support you need to get the job done; and to consistently grow and expand our patronage dividend over time for the benefit of our members,” says UFA Board Chair, Kevin Hoppins.
Your commitment provides the foundation for continued success and we look forward to supporting you, your community, and your business in 2021.
Read today's news release here.