CHS Inc., St. Paul, on Sept. 14 said it intends to return a total of $1 billion in cash patronage and equity redemptions to its owners in calendar year 2023, which is the largest annual cash return in CHS history. It brings the total amount returned to owners over the last 10 years to more than $3.1 billion.
The CHS Board elected to return $500 million in cash patronage based on business done with CHS in fiscal year 2022, which ended on Aug. 31, 2022. Additionally, the Board elected to return $500 million in cash to its owners through equity redemptions.
By comparison, cash patronage for fiscal 2021 was only $150 million, which included $50 million in cash patronage and $100 million in equity redemptions.
“The opportunity for owners to receive cash patronage and equity is a fundamental difference between the cooperative model and other businesses,” said Dan Schurr, CHS Board Chairman. “This critical difference means CHS owners share in the financial success of the company and can leverage that success to fuel strength and growth for their own businesses, their families and the communities we share.”
Final financial results for fiscal year 2022 are expected to be announced in November 2022. Additional patronage-related details will be available at that time, including the amount of fiscal year 2022 patronage equity certificates that will be distributed.