ERCMPU to Pay 10% Dividend to Cooperatives

KOCHI:
Milma’s Ernakulam Regional Cooperative Milk Producers’ Union (ERCMPU) will give away ten per cent of the value of its shares to the members as dividend, according to a general body meeting the ERCMPU convened on dividing the profits for 2023-24.

Informing this, ERCMPU Chairman M.T. Jayan said the cooperative societies in the four districts of Ernakulam, Thrissur, Kottayam and Idukki will thus get an overall Rs 1.48 crore from the net profit of Rs 8 crore during that financial year.

“The dividends will reach the cooperatives along with the milk bills for October 1 to 10,” he revealed.

Besides procurement expenses and expansion activities, ERCMPU mustered the Rs 8-crore net profit through initiatives such as a performance surcharge over the operating profit, farmers’ welfare schemes and financial grants for the union members, Jayan added.