LUBBOCK, TX – (Sept. 20, 2022) – Today at its 69th Annual Meeting, Lubbock-based Plains Cotton Cooperative Association announced further fiscal year-end cash distributions to its grower-owners totaling $19.48 million. The distributions, to be completed this month, consist of $9.40 million in cash dividends and $10.08 million in stock retirements. PCCA’s President and CEO, Kevin Brinkley, commented on the cooperative’s efforts for future business transformations.
“PCCA has been on a journey for the past three years to transform the company into a marketing cooperative of the future,” Brinkley said. “We started in 2019 by completely overhauling our risk management policies. We followed up that work with a top-to-bottom review of PCCA’s mission, vision, and strategies. I’m pleased to report rapid progress on several initiatives that were developed through that work. While it takes time to implement changes at a large organization like PCCA, our membership has been supportive of introducing new and better products and services for our grower-owners, customers, and other stakeholders.”
In other business, Directors for the following PCCA districts were re-elected by the membership: Clint Abernathy, District 1; Kody Carson, District 2; Dean Vardeman, District 6; and Dahlen Hancock, District 7.
Founded in 1953, PCCA is a Lubbock-based marketing cooperative owned by farmers in Texas, Oklahoma, Kansas, and New Mexico dedicated to supplying sustainably-grown, high-quality cotton fiber around the world. In addition to cotton marketing, PCCA also owns cotton warehouse facilities in Texas, Oklahoma, and Kansas and develops and offers software programs and networks to local co-op gins that help add value to their grower-owners’ cotton.