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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 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.
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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