CHS has announced it intends to return $730 million in cash patronage and equity redemptions to its owners in calendar year 2024. The decision demonstrates the cooperative’s ongoing commitment to sharing profits with its owners and strengthening rural communities.
The CHS Board of Directors determines the total amount of cash to be returned to CHS owners at the close of each fiscal year. Based on business done with CHS in fiscal year 2023, which ended on Aug. 31, 2023, the CHS Board has elected to return $365 million in cash patronage and $365 million through equity redemptions to CHS owners.
CHS owners are member cooperatives and farmer-owners in hundreds of communities across rural America. The cash returns earmarked for distribution in 2024 will combine with the previous year’s cash returns for more than $1.7 billion shared with owners over two years and more than $3.2 billion returned to owners over the past 10 years.
“As a cooperative, CHS was founded in the commitment to share financial strength with its owners while growing capabilities and efficiency to help our owners, customers and business partners succeed,” says Dan Schurr, chair of the CHS Board of Directors. “No other business model has this deep connection with its owners and unrelenting focus on empowering our stakeholders and building communities.”
Final financial results for fiscal year 2023 are expected to be announced in November 2023. Additional patronage-related details will be available at that time, including the amount of fiscal year 2023 patronage equity certificates that will be issued to CHS members.