CHS issues $433M in cash distributions to members
by MBJ Staff
Published: February 13,2014
ACROSS MISSISSIPPI — Farmers, ranchers and cooperatives across the United States will share in an estimated $433 million cash distribution from CHS Inc., a St. Paul, Minn.-based energy, grains and foods company and agricultural co-op. The distribution is the second largest in CHS history.
The 2014 cash return to owners is based on CHS net income of $992.4 million, the company’s second highest on record, for the fiscal year ending Aug. 31, 2013.
CHS wrote 50 checks totaling $734,000 to Mississippi member co-ops and individuals.
The distribution beginning this month to about 1,100 member cooperatives and more than 50,000 individual members and others includes cash patronage paid based on their fiscal 2013 business with CHS. CHS is also distributing cash to member cooperatives that redeems equity in the company they earned in prior years. In addition, CHS will redeem equities of eligible individual members throughout 2014 and also will pay quarterly dividends to owners of the two classes of CHS preferred stock.
Since its creation in 1998, CHS has returned more than $3.5 billion in cash to its agricultural producer and member cooperative owners, more than $1 billion of that in its 2013 and 2014 fiscal years.
Patronage is based on business done with CHS by member-owner cooperatives and individual farmers and ranchers during fiscal 2013, while equity redemptions and preferred stock distributions represent retirement of ownership in CHS earned in past years.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Venture Tech merges with ISC, acquires SAT
- PSC's Brandon Presley calls in-state nuclear waste dump a 'harebrained scheme'
- Georgia-Pacific completes acquisition of SPG Holdings
- Community Bank names new officers
- Retired judge to hear McDaniel's challenge of primary loss to Cochran
- Officials set hunting dates for birds; expands dove season by 20 days
- C Spire, UM installing Wi-Fi network at Vaught-Hemingway Stadium
- Corps official: River needs larger ports, locks and dams
- Southern Bancorp to acquire Bank of Bolivar County