Record Payout to Shareholders

Despite a tough trading climate, Wynnstay Group PLC shareholders will receive record dividend payments for the last financial year.

At the recent annual meeting, shareholders voted in favour of a dividend payment for the financial year ending the 31 st October 2006 of 5.25p per share, a total of £602,000.

Group chairman, John Davies said that despite the difficult trading climate, he was delighted that the Group was able to make a record payment to shareholders. Around 80% of the shares of the Company are still held by farmers, so the majority of the payment has gone to the hard pressed agricultural sector.

Since Wynnstay converted to a PLC in 1992, more than £4m has been paid to shareholders in dividends, an equivalent to £2.07 per share based on the original Wynnstay Co-operative £1.00 share.

Wynnstay managing director, Bernard Harris, said: “Shareholders who have retained their holding have seen the value of the £1.00 Co-operative share grow to the equivalent of £9.80 at the current share price.

“At the same time, the Group turnover has increased to more than £110m per annum and is projected to reach £140m by October 2007.”

Wynnstay has three main divisions – feed, arable and retail, and staffing levels across the Group have more than doubled over the last 15 years to accommodate the growth experienced by the Company.

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