|Grainland Cooperative patrons share in CHS cash distribution|
|Written by Holyoke Enterprise|
More than 375 eligible patrons of Grainland Cooperative will share in the distribution of $207,000 in CHS 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 for such a short period of time,” said Rick Unrein, general manager.
“Through their ownership in a cooperative like Grainland Co-op, 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.”
During 2012, Grainland Co-op will allocate a total of $207,000 in CHS patronage dividends to its eligible customers based on business done June 27-Aug. 31, 2011, of which about $89,000 is being paid out in cash.
Overall, CHS Inc., the nation’s leading co-op, 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.
Holyoke Enterprise February 9, 2012