MINNESOTA, April 8, 2019 – Eligible farmer-owners of CHS Prairie Lakes, based out
of Starbuck, Minnesota, shared in the recent distribution of cash patronage and
equity based on business done with CHS.
extremely proud to share this important cooperative membership benefit with our
customers,” said Brad Manderschied, general manager. “Delivering an economic
return to them on the business they do with CHS is one more way we help our
based retail division of CHS Inc. recorded $3,543,590 in savings for fiscal
year 2018, which runs from Sept. 1, 2017 – Aug. 31, 2018. Of those earnings, $2,556,231.75
was allocated to patronage dividends, which is shared with its eligible members
based on business done in that fiscal year. That means $451,686.26 of those
patronage dividends were paid out in cash to members.
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 our 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.
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
retail business delivers agronomy, energy, and grain products and services to Minnesota
ag producers and other customers from seven locations. It is part of CHS Inc., a
leading global agribusiness owned by farmers, ranchers and cooperatives across
the United States. Diversified in energy, agronomy, grains and foods, CHS is
committed to helping its customers, farmer-owners and other stakeholders grow
their businesses through its domestic and global operations. CHS supplies
energy, crop nutrients, grain marketing services, animal feed, food and food
ingredients along with 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.
This document and other
CHS Inc. publicly available documents contain, and CHS officers and
representatives may from time to time make, “forward–looking statements” within
the meaning of the safe harbor provisions of the U.S. Private Securities
Litigation Report Act of 1995. Forward–looking statements can be identified by
words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,”
“project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,”
“should,” “will” and similar references to future periods. Forward–looking
statements are neither historical facts nor assurances of future performance.
Instead, they are based only on CHS current beliefs, expectations and
assumptions regarding the future of its businesses, future plans and
strategies, projections, anticipated events and trends, the economy and other
future conditions. Because forward–looking statements relate to the future,
they are subject to inherent uncertainties, risks and changes in circumstances
that are difficult to predict and many of which are outside of CHS control. CHS
actual results and financial condition may differ materially from those
indicated in the forward–looking statements. Therefore, you should not rely on
any of these forward–looking statements. Important factors that could cause CHS
actual results and financial condition to differ materially from those
indicated in the forward–looking statements are discussed or identified in CHS
public filings made with the U.S. Securities and Exchange Commission, including
in the “Risk Factors” discussion in Item 1A of CHS Annual Report on
Form 10–K for the fiscal year ended August 31, 2018. Any forward–looking
statements made by CHS in this document are based only on information currently
available to CHS and speak only as of the date on which the statement is made.
CHS undertakes no obligation to publicly update any forward–looking statement,
whether written or oral, that may be made from time to time, whether as a
result of new information, future developments or otherwise.