As you have likely heard, the governor of the state of Colorado has issued an order requiring nonessential businesses to reduce the number of people working at work locations by 50 percent. Consistent with guidance from the United States Department of Homeland Security, the order exempts certain essential infrastructure and services, including agriculture and food.
After a full review of the order, CHS has determined that its operations fit within this exemption and we will continue to operate to provide essential products and services so cooperatives, retailers and farmers can plant and grow crops, raise livestock and bring the food they produce to market.
Below is a letter from CHS to our customers and growers in Colorado.
Eligible
farmer-owners of CHS retail businesses based in Colorado shared in the recent
distribution of cash patronage and equity based on business done with the co-op.
Between the
three retail businesses, eligible farmer-owners in Colorado and western
Nebraska shared in a total of $4,644,776.68 in patronage dividends based on
business done Sept. 1, 2017 — Aug. 31, 2018. Of that, $820,732.05 was paid out
in cash.
“We’re extremely proud to share this important cooperative membership benefit with our customers,” said John Ptacnik, general manager of the CHS retail business based in Yuma, Colorado.
This locally
based retail division of CHS Inc. allocated a total of $2,361,329.60 in
patronage dividends from fiscal 2018, of which $417,247.03 is being paid out in
cash.
“Delivering an economic return to our farmer-owners for the business they do with CHS is one more way we help our owners grow,” said Evan Fust, general manager of CHS Grainland, based in Holyoke, Colorado.
CHS Grainland allocated
a total of $2,269,336.88 in patronage dividends to its eligible members based
on business done Sept. 1, 2017 – Aug. 31, 2018, of which $400,991.76 is being
paid out in cash.
Since 2015, the
two retail businesses have worked together through an agronomy partnership to
bring agronomy services and products to area producers. Farmer-owners who did
business through that agronomy partnership shared in $14,110.20 of patronage
dividends, with $2,493.26 of that being paid out in cash.
“We are proud to bring the latest in precision ag technology, crop inputs and crop protection products to our farmer-owners, while also allowing them to earn patronage on the business they do with us,” said Jason Hovey, general manager of the agronomy partnership, based in Sterling, Colorado.
Overall, CHS
Inc. will return $150 million in cash patronage and equity redemption to its owners
in 2019, part of the cooperative’s commitment to sharing profits with 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.
“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.
