DFA members benefit from high profits

Members of Dairy Farmers of America (DFA) who were members of Mid-America Dairymen in 1997 received payments on one of the most profitable years in Mid-Am history this month with the distribution of the 1997 Mid-Am earnings allocation totalling $28.04 million, according to a release from DFA.

Twenty percent of the allocation was distributed to members in cash and the remaining 80 percent was applied to the member's base capital equity in Dairy Farmers of America.

In the 20 percent cash distribution, more than 14,000 checks were mailed in September totaling $5.6 million. The remaining $22.44 million of the allocation distribution was credited to member equity accounts and becomes part of each member's base equity in the new dairy marketing cooperative. DFA board Chairman Herman Brubaker said the base capital program is critical to the success of Dairy Farmers of America.

"Every dynamic and growing organization needs equity in order to sustain growth and build markets," Brubaker said. "The equity our members hold in DFA allows us to grow and maximize earnings through investment in modern processing facilities and joint ventures that add to the bottom-line earnings of our organization."[[In-content Ad]]