GLCP Annouce Dividend!! FOR IMMEDIATE RELEASE Glacial Lakes Corn Processors Distributes $7.0 Million Dividend to its Shareholders October 31, 2013; Watertown, SD---- Glacial Lakes Corn Processors, Inc. (GLCP) - announced today that its Board of Directors has authorized a dividend payment of $7.0 million to its shareholder members of record as of August 31, 2013. After a more difficult year in 2012 where profits were scarce, GLCP has delivered unaudited consolidated net income of $16.9 million for the fiscal year ended August 31, 2013. “Our operations teams have increased production to levels never achieved before and our commodities and risk management team has been diligent and patient in securing margin opportunities for us,” reports CEO Jim Seurer. In addition, the company invested in several carefully-scrutinized revenue improvement projects through the year which helped boost the bottom line. GLCP is committed to strategically managing its operations by promoting a balanced fiscal approach through a consistent payment of performance based dividends, a continued focus on debt repayment, and an aggressive pursuit of revenue enhancement opportunities. The payment will be distributed at the GLCP Annual Shareholder meeting in January 2014 and consists of $0.03 per share on all outstanding shares as well as an additional $0.01 per share retainage payment on original shares. If you are unable to attend the Annual Shareholder meeting the check will be mailed following the event. Checks will not be available for pickup prior to the Annual Shareholder meeting or at the office. For questions or more information, please contact Marcy or Jessi at 605-882-8480. Glacial Lakes Corn Processors is a 4,000+ member cooperative based in Watertown, SD that owns and operates a 100 mgy ethanol plant in Watertown and another 100 mgy ethanol plant in Mina through its wholly-owned subsidiaries. Glacial Lakes Energy also has ownership in Granite Falls Energy and Redfield Energy. Cautionary Statements Regarding Forward- Looking Statements This document contains forward-looking statements involving future events, future business and other conditions, our future performance and our expected future operations and actions. In some cases you can identify forward-looking statements by the use of words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “predict,” “hope,” “should,” “could,” “may,” “future,” “continue,” “potential” or the negatives of these terms or other similar expressions. These statements are based on management’s beliefs and expectations and on information currently available to management. Forward-looking statements are only our predictions and involve numerous assumptions, risks and uncertainties. Important factors that could significantly affect future financial condition and results include, among others, operating margins in the ethanol industry, the rapid pace of expansion in the industry, the cost of corn and the price of ethanol, changes in ethanol supply and demand, changes in current legislation or regulations that affect ethanol supply and demand, disruptions to infrastructure or in the supply of raw materials, the results of our risk management and hedging transactions, and ethanol industry valuations generally. Our actual results or actions may differ materially from those set forth in the forward-looking statements for many reasons, including events that are beyond our control or assumptions not proving to be accurate or reasonable. We caution you not to put undue reliance on any forward-looking statements, which speak only as of the date of this document. We cannot guarantee our future results, levels of activity, performance or achievements. ###
Posted on: Fri, 01 Nov 2013 19:27:21 +0000
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