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CHS owners share of $225 million
April 07, 2010
St. Paul – CHS, Inc. owners in 48 states will share in an up to $225 million disbursement during 2010 as a result of the leading energy and grain-based food company’s strong fiscal 2009 earnings. The distribution is the fourth largest in the company’s 80-year history. The $190 million distribution made recently consisted of cash patronage and CHS preferred stock issued to redeem previously earned member equity. Additional distribution of equity and preferred stock dividends later this year are expected to bring the fiscal 2010 total to $225 million. CHS net income for its fiscal year ending Aug. 31, 2009, was $381 million. During 2010, distributions are being made to more than 1,000 member companies and more than 37,000 individuals. Patronage is based on business done with CHS during fiscal 2009, while equity redemptions and preferred stock distributions represent retirement of ownership in CHS earned in past years.
Source: Agweek
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