Eligible farmer-owners of the CHS retail business based out of Mahnomen, Minnesota, 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 James Hardy, general manager. “Delivering an economic return to them on the business they do with CHS is one more way we help our owners grow.”
This locally based retail division of CHS Inc. allocated a total of $2,285,628.46 in patronage dividends to its eligible members based on business done Sept. 1, 2017 – Aug. 31, 2018, of which $403,870.33 is being paid out in cash.
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.