NEW LONDON, Wis. (March 1, 2016) – About 1,850 eligible member-owners of CHS Larsen Cooperative will share in the distribution of $4.5 million in cash patronage and equity during 2016 based on business they’ve conducted with the cooperative.
“We’re extremely proud that once again we can deliver this important benefit of being part of a cooperative business to our member-owners,” said Todd Reif, 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 Larsen Cooperative. This – along with the quality, dependable products 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 Larsen Cooperative, 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.”
CHS Larsen Cooperative is a locally controlled retail division of CHS Inc., the nation’s leading producer-owned cooperative. CHS returns cash to eligible owners while maintaining a sound financial foundation and continuing to make investments in the company’s future that add long-term value for its stakeholders.
During 2016, CHS Larsen Cooperative will allocate a total of $4.5 million in patronage returns to its eligible customers based on business done between Sept. 1, 2014 – Aug. 31, 2015, of which $1.8 million is being paid out in cash.
Overall, CHS expects to return an estimated $519 million during fiscal 2016, extending the strongest period of cash returns to owners in company history. Distributions will include cash patronage, equity redemptions, preferred stock and dividends paid on preferred stock to about 1,100 eligible member cooperatives and approximately 50,000 individual members in 49 states, along with preferred stockholders. CHS net income for its fiscal year ending Aug. 31, 2015, was $781 million. Over the past five fiscal years, CHS has returned $2.7 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 Todd Reif, general manager, 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.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, 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, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients, along with business solutions including insurance, 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.