LEWISTON, IDAHO, April 10, 2019 – Eligible farmer-owners of CHS Primeland, based out of Lewiston, Idaho, 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 Ken Blakeman, 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 $1,679,816.95 in patronage dividends to its eligible members based on business done Sept. 1, 2017 – Aug. 31, 2018, of which $296,823.81 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 Lewiston-based retail business delivers agronomy, energy, grain, feed and retail products and services to Idaho, Washington and Oregon ag producers and other customers. 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.