Maple River Coop Annual Meeting Update

Apr 24, 2020


April 2020

Maple River Coop Annual Meeting Update

Dear Patron,

Since we are not able to meet in person at this time due to CDC requirements regarding the COVID-19 situation, the Maple River Coop Annual Meeting that would normally take place in April, has been postponed to a later date. We want to ensure that our patrons, directors, and staff stay healthy and safe during this time. A notice for the meeting will be sent out once its safe to hold the meeting open to the public.

Enclosed are copies of the condensed FY2019 financials for the coop and MRGA, LLC. Overall, Maple River Grain & Agronomy, LLC had a great year considering current industry trends and tough fall conditions. The MRGA, LLC board voted on a 40% cash allocation, or $1.2 million distribution, to Maple River Coop and AGP, Grain Ltd. Net Income for Maple River Grain & Agronomy, LLC was reported at $3,020,439.36 for FY2019.

Maple River Coop received a cash portion of $855,600.00 from Maple River Grain & Agronomy, LLC’s FY2019 allocation, based off $2.1 million. Net Income for the coop after distribution was reported at $2,195,269.73. The Maple River Coop board of directors voted to retire the remaining balance of the 2006 allocation year and to payout a 30% cash dividend, 70% revolving for the 2019 allocation year. The distribution checks are enclosed.

We will have company updates to present at the annual meeting. We look forward to sharing with you our successes and outlook for 2020. With the spring planting season ahead, we want to wish all of our patrons a prosperous year. We are here to serve you so please let us know if there is anything we can do to help! If there are any questions regarding the financials or distribution process, please give our office a call at 701-347-4465. Patronage questions can be directed to Emily at Ext 1005 or email at: eneels@maplerivergrain.com.

Regards,
 
 
Alex Richard
Maple River Coop Manager
arichard@maplerivergrain.com

Read More News

Feb 06, 2024
Maple River Grain and Agronomy, LLC was formed in 2004. The company was a merger between Prosper Farmers Cooperative Elevator, Chaffee-Lynchburg Farmers Elevator and AGP Grain Ltd out of Omaha, NE. AGP owned the north elevator in Casselton, and with the merger in 2004 Maple River Grain and Agronomy, LLC broke ground on a new shuttle loading facility in Casselton. In 2017 Chaffee-Lynchburg Farmers Elevator and Prosper Farmers Elevator merged into Maple River Coop, which has a majority ownership of Maple River Grain and Agronomy, LLC (MRGA).
 
Dec 12, 2023
Everyone please help us in welcoming Jonathan Brooks to our team at MRGA as our Financial Analyst.
 
Mar 23, 2023
In the months of April and May we will be featuring a coloring contest for the children in our communities. The winners will be chosen twice a month and will be featured on our website along with receiving a goodie bag.