Grange Co-op Reports Strong Financial Performance for 2023

White City, Oregon – Grange Co-op has announced another year of positive financial results, with sales reaching $81.5 million in 2023. The company also achieved a margin before income taxes exceeding $2.7 million, representing 3.42% of sales.

In a press release, the company says due to its cooperative business model and the continued support of its patrons, the Grange Co-op Board of Directors has authorized a 3% patronage dividend on qualifying 2023 purchases. Thirty percent of this dividend will be distributed in cash to qualifying agricultural members, with the remaining dividend allocated to patrons in equity.

They continued that their distribution model not only provides immediate benefits to patrons but also ensures the long-term sustainability of Grange Co-op.

In 2023, Grange Co-op’s agricultural member dividend allocation totaled $462,000, with $139,000 distributed in cash and the remaining $323,000 allocated as nonqualified patronage equity. This distribution highlights Grange Co-op’s commitment to its patrons and the agricultural community.

“We are immensely grateful to our patrons for their continued support, which has been instrumental in our success,” said Neil Itzen, CEO at Grange Co-op. “Our success in 2023 is a testament to the strength of our cooperative model, the dedication of our employees, and the loyalty of our patrons. We remain committed to growing our business and delivering value to our agricultural members.”