|
|
|
More than 1,400 eligible patrons of CHS Ag Services will share in the distribution of $5.5 million in cash patronage and equity during 2012 based on business they’ve conducted with the company.
“We’re extremely proud that we can provide this tremendous return to our customers and owners,” said Gary Halverson, general manager. “Through their ownership in a business like CHS Ag Services not only do they have access to products and services, they also share in our success and that of the integrated CHS system. This enables all of us to invest in the future of our local producers, this business and our community.”
CHS Ag Services is a locally controlled division of CHS Inc., the nation’s leading producer-owned cooperative, which provides crop inputs including fertilizer, crop protection products and seed to customers of several area cooperatives in western Minnesota and eastern North Dakota.
During 2012, CHS Ag Services will allocate a total of $5.5 million in patronage dividends to its eligible customers based on business done Sept. 1, 2010 – Aug. 31, 2011, of which $2.1 million is being paid out in cash.
Overall, CHS expects to return up to a record $421 million during its 2012 fiscal year in cash patronage, equity redemptions and dividends paid on preferred stock to more than 1,060 eligible cooperatives and nearly 45,500 individual members and others in 50 states. CHS net income for its fiscal year ending Aug. 31, 2011, was $961.4 million. Patronage is based on business done with CHS during fiscal 2011, while equity redemptions represent retirement of ownership in CHS earned in past years. Since it was established in 1998, CHS has returned more than $2.5 billion in cash to its owners.
If they have not already done so, Individuals who have reached age 70 and representatives of the estates of deceased members are encouraged to contact Gary Halverson and request redemption of their equity. CHS makes equity redemptions to eligible individual direct members throughout the year, based on attaining age 70 or estate retirements, but potentially eligible individuals must initiate contact.
CHS Inc. (www.chsinc.com) is the nation’s leading cooperative, owned by farmers, ranchers and co-ops across the United States. A diversified energy, grains and foods business and a Fortune 100 company, CHS is committed to providing the essential resources that enrich lives around the world. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products. CHS preferred stock is listed on the NASDAQ at CHSCP.
More than 1,400 eligible patrons of CHS Ag Services will share in the distribution of $5.5 million in cash patronage and equity during 2012 based on business they’ve conducted with the company.
“We’re extremely proud that we can provide this tremendous return to our customers and owners,” said Gary Halverson, general manager. “Through their ownership in a business like CHS Ag Services not only do they have access to products and services, they also share in our success and that of the integrated CHS system. This enables all of us to invest in the future of our local producers, this business and our community.”
CHS Ag Services is a locally controlled division of CHS Inc., the nation’s leading producer-owned cooperative, which provides crop inputs including fertilizer, crop protection products and seed to customers of several area cooperatives in western Minnesota and eastern North Dakota.
During 2012, CHS Ag Services will allocate a total of $5.5 million in patronage dividends to its eligible customers based on business done Sept. 1, 2010 – Aug. 31, 2011, of which $2.1 million is being paid out in cash.
Overall, CHS expects to return up to a record $421 million during its 2012 fiscal year in cash patronage, equity redemptions and dividends paid on preferred stock to more than 1,060 eligible cooperatives and nearly 45,500 individual members and others in 50 states. CHS net income for its fiscal year ending Aug. 31, 2011, was $961.4 million. Patronage is based on business done with CHS during fiscal 2011, while equity redemptions represent retirement of ownership in CHS earned in past years. Since it was established in 1998, CHS has returned more than $2.5 billion in cash to its owners.
If they have not already done so, Individuals who have reached age 70 and representatives of the estates of deceased members are encouraged to contact Gary Halverson and request redemption of their equity. CHS makes equity redemptions to eligible individual direct members throughout the year, based on attaining age 70 or estate retirements, but potentially eligible individuals must initiate contact.
CHS Inc. (www.chsinc.com) is the nation’s leading cooperative, owned by farmers, ranchers and co-ops across the United States. A diversified energy, grains and foods business and a Fortune 100 company, CHS is committed to providing the essential resources that enrich lives around the world. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products. CHS preferred stock is listed on the NASDAQ at CHSCP.
