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PLC Patrons Share In Record $1.8m Cash Distribution
Pope County Tribune - Starbuck Times
Written by Chad Koenen - Starbuck Times New Editor   
Thursday, 05 March 2009 09:25


During 2009, Prairie Lakes Coop will allocate a total $4.7 million in patronage dividends to its eligible customers based on business done Sept. 1, 2007 - Aug. 31, 2008, of which $1.8 million will be distributed in cash in the month of February.

CHS expects to return up to $343 million during 2009 in cash patronage, equity redemptions and preferred stock to 1,200 eligible companies and more than 35,000 producers in 48 states. This will mark the largest distribution to owners ever made by a U.S. cooperative and a fifth consecutive record by CHS. CHS net income for its fiscal year ending Aug. 31, 2008, was $803 million. Patronage is based on business done with CHS during fiscal 2008, while equity redemptions and preferred stock represent retirement of ownership in CHS earned in past years.
If they have not already done so, individuals who have reached age 70 and representatives of the estates of deceased members are encouraged to contact Darla Schwendwmann at 320-239-2226 and request redemption of their equity. CHS makes equity redemptions to eligible individual direct members throughout the year, based on attaining age 70 or estate retirements, but potentially eligible individuals must initiate contact.

Prairie Lakes Coop (prairielakescoop.com), a division of CHS, provides products and services in the agronomy, energy, and grain markets to meet the needs of its patrons. Prairie Lakes Coop has locations in the communities of Cyrus, Hoffman, Elrosa, Lowry, Long Prairie, Park Rapids, Glenwood and Starbuck creating relationships with customers in agronomy inputs, propane, fuel, and grain marketing.

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CHS Inc. (www.chsinc.com) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders across the United States. CHS supplies energy, crop nutrients, grain, livestock 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. CHS is listed on the NASDAQ at CHSCP.