ST. PAUL, MINNESOTA, US — CHS Inc. intends to return $730 million to its owners in calendar year 2024, an amount determined by the board of directors at the end of the 2023 fiscal year on Aug. 31.
Based on business done in fiscal 2023 with CHS, a leading US agribusiness, the board elected to return $365 million in cash patronage and $365 million through equity redemptions to company owners.
“As a cooperative, CHS was founded in the commitment to share financial strength with its owners while growing capabilities and efficiency to help our owners, customers and business partners succeed,” said Dan Schurr, chair of the board of directors. “No other business model has this deep connection with its owners and unrelenting focus on empowering our stakeholders and building communities.”
CHS owners are member cooperatives and farmer-owners in hundreds of rural communities across the United States. Combined with 2024, CHS will have returned more than $1.7 billion to its owners over two years and more than $3.2 billion over the past 10 years.
Final financial results for fiscal year 2023 are expected to be announced in November. Additional patronage-related details will be available at that time, including the amount of fiscal year 2023 patronage equity certificates that will be issued to CHS members.With diversified agronomy, grains, foods and energy businesses, CHS serves customers in 65 countries and employs nearly 10,000 people worldwide. CHS recorded revenues of $47.8 billion in fiscal year 2022.