Connell Grain Growers announced Friday that about 670 of its patrons will share in the distribution of $2.7 million in cash patronage and equity this year based on business with the company.
Scott Althoff, the company's general manager, said in a statement, "One of the most important ways we help producers grow is by delivering an economic return on the business they do with Connell Grain Growers."
The company will allocate $2.7 million in patronage dividends and pay out $1.1 million in cash to eligible customers based on business done between Sept. 1, 2012, and Aug. 31, 2013.
Connell Grain Growers is a locally controlled retail division of CHS Inc., a global agribusiness owned by farmers, ranchers and cooperatives.
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Overall, CHS plans its second highest return at an estimated $433 million during fiscal 2014 in cash patronage, equity redemptions and dividends on preferred stock to about 1,100 cooperatives and more than 50,000 individual members. The CHS net income for its fiscal year ending Aug. 31, was $992.4 million.