Lakes Area Cooperative held its 100th annual stockholders meeting at SteVelly’s in Perham last Tuesday.
Co-op manager Dale Tellinguisen presented the co-op’s audit, reporting sales of $70.2 million and earnings of $1.5 million.
The cooperative announced that it would be paying out nearly $1 million in cash and issuing $1.1 million in equity to patrons of the company, based on 2012 purchases.
Milk Quality Awards were presented to 22 local dairy farms.
Three incumbent directors were elected for three-year terms, including Ken Herbranson, Marlin Flatau and Ron Palubicki.
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Lakes Area Cooperative is a diversified energy, farm supply and milk purchasing cooperative with locations in Perham, Ottertail, Battle Lake, Vergas, Dent, Menahga, Wolf Lake, Park Rapids and Akeley.
