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Area producers share in local CHS patronage distribution
NAPOLEON, NORTH DAKOTA, April 15, 2019 – Eligible farmer-owners of CHS South Central, based out of Napoleon, North Dakota, 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 Jeff Mehl, 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 $81,341.48 in patronage dividends to its eligible members based on business done Sept. 1, 2017 – Aug. 31, 2018, of which $14,372.95 is being paid out in cash.
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 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 and 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 the past 12 years, CHS has returned about $3.5 billion to its owners in the form of cash patronage.
The Napoleon-based retail business delivers agronomy, grain and feed products and services to North Dakota ag producers and other customers from six 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.