CHS Inc., the nation’s leading agribusiness cooperative, intends to return a total of $1 billion in cash patronage and equity redemptions to its owners in calendar year 2023, delivering on its objectives to share profits with owners and contribute to building strength in rural America.
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CHS will return $180 million in cash patronage and equity redemptions to its owners based on fiscal 2019 earnings.
Of that $180 million, $90 million will be distributed in cash patronage and $90 million will be distributed through equity redemptions.
Eligible farmer-owners of the CHS retail businesses based out of Holdrege, Nebraska, and Oberlin, Kansas, shared in the recent distribution of cash patronage and equity based on business done with the co-op.
“We’re extremely proud to share this important cooperative membership benefit with our customers,” said Pat Peterson, general manager. “Delivering an economic return to them on the business they do with CHS is one more way we help our owners grow.”
The Holdrege-based retail division of CHS Inc. allocated a total of $2,133,098.56 in patronage dividends to its eligible members based on business done Sept. 1, 2017 – Aug. 31, 2018, of which $376,918.96 is being paid out in cash. The Oberlin-based retail division allocated a total of $203,927.48 in patronage dividends to its eligible members based on business done Sept. 1, 2017 – Aug. 31, 2018, of which $36,033.97 is being paid out in cash.
Overall, CHS Inc. will return $150 million in cash patronage and equity redemption to its farmer-owners in 2019, part of the cooperative’s commitment to sharing profits with our owners and returning money to rural America where it can be reinvested in the community. More than 840 local cooperatives and 25,000 farmers share in this distribution of cash patronage and equity redemptions.
The percentage returned to owners is determined annually by the CHS Board of Directors and based on performance, financial strength and long-term growth opportunities.
“Returning cash to our owners enables farmers, ranchers and cooperatives to invest in their own futures,” said Dan Schurr, chairman of the CHS Board.
In the past 12 years, CHS has returned about $3.5 billion to its owners in the form of cash patronage.
Patronage and equity are key benefits for owners of CHS and the cooperative system. CHS is committed to distributing patronage and redeeming equity for its owners while maintaining a strong balance sheet so it can continue to provide owners with the goods, services and supply chain capabilities required for long-term success.
Following the close of fiscal 2018, the CHS Board of Directors has announced the following patronage and equity distribution decisions:
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