CALGARY - UFA has consistently delivered patronage to its members, and this marks the sixth consecutive year of increased patronage and a 56 per cent increase over last year.
“One of the primary benefits to being a co-operative member is patronage, and this year’s patronage dividend is truly significant. We have expanded our patronage program to reward our membership by paying on more categories of purchases. More products our members use daily on their farm, ranch, or for their business now earn them patronage rewards. We are proud to grow and deliver patronage consistently. At UFA, members can count on their co-operative and on patronage,” said Scott Bolton, President and CEO, UFA.
With a minimum $5,000 purchased in 2022, patronage will be paid on Clear and Dyed Dieselex Gold (six cents per litre), Clear and Dyed Diesel (five cents per litre), Clear and Dyed Gasoline (one cent per litre), and three per cent on most other purchases, excluding Micro Beef, crop nutrition (i.e. bulk fertilizer and micro-nutrients) and leased purchases.
“We believe good business is rooted in investing in good relationships and consistently rewarding our membership with a growing patronage dividend demonstrates our commitment. We take great pride in our patronage program. As owners of UFA, our success is truly our members’ reward,” said Kevin Hoppins, Board Chair, UFA.
UFA had a very strong fiscal year. In addition to the $28 million patronage dividend, it reported $2.4 billion in financial revenues and $157 million in earnings before interest, taxes, depreciation, and amortization (EBITDA).
The co-operative continues to invest in core businesses. Along with a multi-phased Saskatchewan expansion, it increased its Dieselex Gold offering with the premium product available at its new locations. UFA also unveiled plans for a new Red Deer Farm and Ranch Supply store location to be built in Gasoline Alley.
It demonstrated its commitment to its customers launching UFA MarketPLACE, expanding its product selection and featuring products not otherwise available in its Farm and Ranch Supply stores.
Most importantly, health and safety remained a key priority. UFA first received its COR Certification in 2007 and since 2013, has been consistently at or above a 95 per cent score, with an impressive final score of 96 per cent in the 2022 COR Audit.
In addition to the $28 million patronage announcement, UFA shared that it officially opened its doors in Weyburn and Yorkton. These sites are part of the expansion of UFA’s petroleum business into key markets in central and eastern Saskatchewan.
“We believe in the value of giving our members and customers choice. People living in or nearby these communities now have another option of where to spend their hard-earned dollars. Expanding our network is part of a concerted strategy to grow from an Alberta-focused fuel and agribusiness co-operative to a western-Canadian leader,” said Scott Bolton, President and CEO, UFA.
Jason and Laura Lee Petersen will be operating the Weyburn UFA outlet, and Mark Lukash is the Yorkton agent.