Glanbia Co-op pays out €6.7m to shareholders

Glanbia Co-op has distributed a 16.7% per share special dividend to all its members, a collective €6.7m payment as part of the €67.4m raised by the sale of four million Glanbia plc shares agreed in May 2015.

When members signed up to a member support fund in 2015, Glanbia committed to paying 25% (€16.85m) of the fund as a special shareholder dividend.

“Glanbia Co-op has a clear strategy that delivers value creation, supporting our investments in Glanbia plc and Glanbia Ingredients Ireland (GII) and value distribution, through support for members and a progressive dividend policy,” said Glanbia Co-op chairman Henry Corbally.

In May 2016, the co-op paid out 25c per share. The two 2016 special dividends are on top of the ordinary dividend (share interest) of 10c per share approved in May 2015.

This brings total dividend payments to shareholders in 2016 to 52c per share. All shareholders who have given Glanbia their bank account details have already received payment.