Ag producers share in CHS distribution
Eligible farmer-owners of CHS SunBasin Growers, based in Quincy, shared in the recent distribution of cash patronage and equity based on business done with CHS.
“We’re extremely proud to share this important cooperative membership benefit with our customers,” said Tyson Chick, general manager, in a press release. “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 $3,869,475.30 in patronage dividends to its eligible members based on business done Sept. 1, 2017 to Aug. 31, 2018, of which $683,735.73 is being paid out in cash, the company stated.
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 owners and returning money to rural America, where it can be reinvested in the community, the company stated in a press release. 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 is 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 a press release.
In the past 12 years, CHS has returned about $3.5 billion to its owners in the form of cash patronage.
The Quincy-based retail business delivers agronomy, energy and grain products and services to Washington ag producers and other customers from locations in seven communities. It is part of CHS Inc., a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States.