Investment payout for First Milk members

Dairy co-op First Milk is to make a 3% return on investment payment to active and retired members.

The money, which will be paid out with the January milk cheque, comes on the back of improved trading performance. Last November, the co-op said improved dairy commodity prices had helped it increase pre-tax profits by more than £12m in the first half of 2010.

“As we have made moves to develop First Milk, a key aim for the board and executive team was that we start to establish a track record of regular returns on capital invested in the business,” chairman Bill Mustoe said.

“The purpose of a co-operative is to do the best for its members, so we are paying this out now, rather than waiting until the year-end as most organisations do, as it’s better off in your pocket, especially at this time of year.”