July 22, 2011

Dakota Quality Grain reports surplus earnings

Dakota Quality Grain reports surplus earnings
This spring may be tough on farmers in the area but you wouldn’t know it following the annual meeting of Dakota Quality Grain Cooperative last week in Parshall. The co-op reported an increase of nearly $2.3 million net income from 2010 until present.
The balance sheet shows a net income of $6,304,957 in 2011, up from $3,992,571 in 2010. Of that net income, the local income was also up to 4,766,824 in 2011 from 3,334,910 in 2010. Although the numbers are favorable, General Manager Daryl Stevens pointed out that they are not a record as that was set several years ago. Also with this year’s difficulties those high numbers will be needed to balance out the upcoming difficulties.
At the meeting DQGC also paid back over a million in dividends. DQGC reported a gross of $573,342 dividends and paid patrons back a total of $977,240.

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