Hood River Supply held its 68th annual meeting Thursday, Feb. 15 at the Pine Grove Grange. The annual event included reports to members and customers from the board and management on the past fiscal year’s financial performance and accomplishments, and held an election of two directors.
The membership heard from John Wells, board chairman, on the past year’s accomplishments and contributions by the cooperative back into the community. He also thanked the employees for their hard work and contribution to Hood River Supply.
Pat McAllister, president/CEO, gave the financial audit report and management update. He reported that Hood River Supply posted an increase of 11 percent in sales, a record for sales of nearly $10 million. A record local profit was also reported of over $450,000.
This year, the board authorize a 6.19 percent patronage (35 percent in cash and the balance in stock) and declared a stock retirement and non-qualified patronage distribution for all stock issued in 1997. The company will be returning nearly $175,000 to members. The cooperative has returned over $600,000 to members in the last five years, as reported by McAllister.
Elections for two director positions were held to fill the positions vacated by Sue Wiebalk of Dee and Darin Molesworth of Mosier. Both directors decided to retire after serving 12 years on the board. Wade Root of Mosier was elected to fill Molesworth’s position and Adam McCarthy was elected to fill Wiebalk’s.
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