1. The Board declared a dividend on preferred shares for the 2018 fiscal year. These 4% dividends on preferred shares are paid annually at the discretion of the Board.
2. Wheatsfield closed the window for member loan extensions and conversions to preferred shares as of Sept. 30. The conversion campaign was very successful, we converted or extended 40 out of 52 member loans. The Board wishes to thank the member lenders, shareholders, and Wheatsfield staff for their work on this project.
3. Wheatsfield had an independent accountant review the co-op’s financial statements, as is typically done each year.
4. As the Board terms come toward an end for the year, the Board would like to thank Penny Brown-Huber for her 12 years of service on the Board of Directors through two expansion projects, her two years as Board President, and her leadership in Iowa’s local foods community.
5. The Annual Meeting of the Members was Tuesday, Oct. 22 at Torrent Brewery (a new venue for us!), Wonderful to see so many of you there!