CHARLESTON -- Delta Growers Association and its members have received over $222,000 from CHS Inc., part of a record cash return based on the leading energy and grain-based foods company's fiscal 2006 earnings.
CHS is returning a total $258 million in cash patronage, equity redemptions and preferred stock to eligible member cooperatives and producers in 47 states. It marks the largest distribution to owners ever made by a U. S. cooperative and the third consecutive record by CHS .
"Our ability to share in this record cash return underscores the value of being part of a strong cooperative system," said Keith Jorgensen, general manager of Delta Growers Association. "This cash return will provide our cooperative with the ability to make decisions that will add value for our own local member-
CHS net income for its fiscal year ending Aug. 31, 2006, was $490.3 million.
In total, CHS is making distributions to 1,325 cooperatives and more than 37,000 individuals. Patronage is based on business done with CHS during fiscal 2006, while equity redemptions and preferred stock represent retirement of ownership in CHS earned in past years.
CHS Inc. (www. chsinc.com) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives.
A Fortune 500 company, CHS is owned by farmers, ranchers and cooperatives from the Great Lakes to the Pacific Northwest and from the Canadian border to Texas, along with thousands of preferred stockholders. CHS provides products and services ranging from grain marketing to food processing to meet the needs of customers around the world. It also operates petroleum refineries/pipelines and, through a broad range of working partnerships, markets and distributes Cenex® brand energy products.