ST. PAUL, Minn., Feb. 24, 2016 /PRNewswire/ — Farmers, ranchers and cooperatives across the United States will share in an estimated $519 million cash distribution from CHS Inc. (NASDAQ: CHSCP), the nation’s leading agricultural co-op and a global energy, grains and foods company. The distribution ranks among the largest in CHS history and extends a five-year record of significant cash returns to owners.
David Bielenberg, CHS Board chairman and a Silverton, Ore., farmer, said the 2016 cash returns to owners demonstrate CHS commitment to maintaining a strong financial foundation, providing economic returns to its owners and continuing to invest in the company’s future.
“The ability of our owners, who are also our customers, to directly share in the financial success of CHS is a unique benefit of a cooperative business,” said Bielenberg. “And, this cash return is added value that enables farmers, ranchers and member cooperatives to invest in their own futures and in the communities where they live.”
The 2016 cash return to owners is based on CHS net income of $781 million for the fiscal year ending Aug. 31, 2015. Between fiscal 2012 and 2016 (based on fiscal 2011 – 2015 earnings) CHS has distributed a total of $2.7 billion in cash, a $544 million annual average.
The distribution beginning this month to about 1,100 member cooperatives and approximately 50,000 individual members and others consists of patronage paid on business conducted with CHS in fiscal 2015. During fiscal 2016, CHS will also redeem previously earned equity to eligible member cooperatives and individual members, as well as pay quarterly dividends on its five classes of CHS preferred stock.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, 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, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients, along with business solutions including insurance, 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.
This document and other CHS Inc. publicly available documents contain, and CHS officers and representatives may from time to time make, “forward–looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Report Act of 1995. Forward–looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Forward–looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on CHS current beliefs, expectations and assumptions regarding the future of its businesses, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of CHS control. CHS actual results and financial condition may differ materially from those indicated in the forward–looking statements. Therefore, you should not rely on any of these forward–looking statements. Important factors that could cause CHS actual results and financial condition to differ materially from those indicated in the forward–looking statements are discussed or identified in CHS public filings made with the U.S. Securities and Exchange Commission, including in the “Risk Factors” discussion in Item 1A of CHS Annual Report on Form 10–K for the fiscal year ended August 31, 2015. Any forward–looking statements made by CHS in this document are based only on information currently available to CHS and speak only as of the date on which the statement is made. CHS undertakes no obligation to publicly update any forward–looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE CHS Inc.
For further information: Lani Jordan, (651) 355-4946, lani.jordan@chsinc.com