ERCMPU to give 10% of its share value to members

Milma’s Ernakulam Regional Cooperative Milk Producers’ Union (ERCMPU) will give away 10% of the value of its shares to its members as dividend, it was decided at the union’s general body meeting that was convened to divide profits for 2023-24.

ERCMPU chairman M.T. Jayan said the cooperative societies in the four districts of Ernakulam, Thrissur, Kottayam, and Idukki would thus get an overall ₹1.48 crore from the net profit of ₹8 crore during the said financial year. “The dividends will reach the cooperatives along with the milk bills for October 1 to 10,” he said.

Besides procurement expenses and expansion activities, the union mustered the ₹8-crore net profit through initiatives such as a performance surcharge over the operating profit, farmers’ welfare schemes, and financial grants for the union members, he added.