CHS pays $3M in local distributions

Press release

About 870 eligible patrons of CHS Milk River will share in the distribution of $3 million in cash patronage and equity during 2015 based on business they’ve conducted with the company.

“We’re extremely proud that we once again can deliver this important benefit of being part of a cooperative business to our customers and owners,” said Ryan Lammers, general manager. “One of the most important ways we help producers grow is by delivering an economic return on the business they do with CHS Milk River. This — along with the quality energy and crop inputs, crop marketing and services we provide year-round — underscores the added value of being a cooperative system owner and customer.

“Through their ownership in a cooperative like CHS Milk River, not only do they have access to products and services, they also share in our success and that of the integrated CHS system,” Lammers added. “This enables all of us to invest in the future of our local producers, this business and our community.”

During 2015, this locally controlled retail division of CHS Inc., the nation’s leading producer-owned cooperative will allocate a total of $3 million in patronage dividends to its eligible customers in its local area based on business done Sept. 1, 2013-Aug. 31, 2014, of which $1.2 million is being paid out in cash.

Overall, CHS expects to return an estimated $518 million — its third highest return on record — during its 2015 fiscal year in cash patronage, equity redemptions and dividends paid on preferred stock to about 1,100 eligible cooperatives and more than 55,000 individual members and others in 49 states. CHS net income for its fiscal year ending Aug. 31, 2014, was $1.1 billion. Patronage is based on business done with CHS during fiscal 2014, while equity redemptions represent retirement of ownership in CHS earned in past years. Over the past six fiscal years, CHS has returned $2.6 billion in cash to its owners.

If they have not already done so, individuals who have reached age 70 and representatives of the estates of deceased members should contact Ryan Lammers and request redemption of their equity. CHS makes equity redemptions to eligible individual direct members throughout the year, based on attaining age 70 or estate retirements, but potentially eligible individuals must make contact.