Red-meat co-operative Alliance Group has issued 9.5 million bonus shares to farmer shareholders.
More than 3000 farmer shareholders have received the shares from the 100 per cent farmer-owned co-operative.
David Surveyor, chief executive of Alliance, said the bonus share issue rewards farmers by increasing their shareholding in the company.
"We are New Zealand's only 100 per cent farmer-owned major red meat co-operative and our farmers tell us they value their ownership. This bonus share issue is another example of Alliance acknowledging our farmers are at the heart of every decision we make.
"Alliance is committed to returning as much value as possible to our farmers and continuing to invest for their long- term benefit.