St. Paul-CHS Inc. owners in 48 states will share in an up to $225 million disbursement during 2010 as a result of the company’s fiscal 2009 earnings (GM Nov. 16, 2009). Back in November, CHS said it would be making about $220 million in patronage distributions. 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 distributions of equity and preferred stock dividends later this year are expected to bring the fiscal 2010 total to $225 million. “Once again, CHS has demonstrated one of the most important ways we can deliver on our mission of adding value for all of our stakeholders,” said Michael Toelle, CHS board chairman. “Amid very challenging economic conditions, the strong performance the company achieved during fiscal 2009 has enabled CHS to continue to grow, to be financially sound, and to provide a return on our owners’ investment in diverse businesses ranging from energy to grain marketing to food processing.” 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.
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