UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  June 26, 2012

 

 

MINN-DAK FARMERS COOPERATIVE

(Exact name of Registrant as specified in its charter)

 

North Dakota 33-94644 23-7222188
(State or other jurisdiction
of incorporation)
(Commission File Number) (I.R.S. Employer
Identification No.)
     
7525 Red River Road
Wahpeton, North Dakota
  58075
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code:  (701) 642-8411

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 CFR 240.14a-2)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 
 

 

 

Item 8.01    OTHER EVENTS

 

 

On June 26, 2012, the Board of Directors of Minn-Dak Farmers Cooperative (the “Company”) approved a change to the estimated sugarbeet payment for the 2011-crop from the previous estimate of 24.64301 cents per pound of extractible and bonus sugar (or $72.72 per ton of average quality harvested sugarbeets) to the current projection of 25.09372 cents per pound of extractible and bonus sugar (or $74.05 per ton of average quality harvested sugarbeets). The estimated sugarbeet payment is net of a $1.00 per harvested ton budget contingency hold back until such time as the Company has an accurate assessment of what the final payment for the 2011 sugarbeet crop will be. The Board of Directors also authorized a capital contribution from shareholders through a per unit retain deduction of $1.00 per harvested ton that will be deducted from the 2011-crop July beet payment. The per unit retain has been earmarked for capital improvements. This unit retain will initially be non-qualified, but may be qualified at a later date and time as allowed by the IRS regulations and as required by the Company for tax planning purposes. The estimated sugarbeet payment may be changed, modified or amended as additional information becomes available during the Company's fiscal year.

 

 

 

 

Any statements regarding future market prices, anticipated costs, agricultural results, operating results and other statements that are not historical facts contained in this 8-K report are forward-looking statements. The words "expect", "project", "estimate", "believe", "anticipate", "plan", "intend", "could", "may", "predict" and similar expressions are also intended to identify forward-looking statements. Such statements involve risks, uncertainties and assumptions, including, without limitation, market factors, the effect of weather and economic conditions, farm and trade policy, the available supply of sugar, available quantity and quality of sugarbeets and other factors detailed elsewhere in this and other Company filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.

 

 

 
 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  MINN-DAK FARMERS COOPERATIVE
     
     
Dated:  June 28, 2012 By: /S/ David H. Roche
    David H. Roche
President and Chief Executive Officer