Glanbia Co-operative Society has announced an additional aid package worth €1m to assist its farmer members who are still managing the impacts of the fodder shortage.

Following a board meeting of the society yesterday, chairman Liam Herlihy, said the board had agreed to fund a rebate of €25 per tonne to all members who received animal feed deliveries from Glanbia Agribusiness in April (1 -27 April). The rebate valued at approximately €1m is subject to member approval at the society AGM in early June.

Separately at its meeting, the board decided that it will propose to the AGM a 50% increase in the dividend paid to members from 4% to 6%, increasing the 2013 dividend payment by c €0.9m to €2.7m.