AgCountry Declares $60 Million in Cash Dividends

Money
02 Jan 2020
The Board is truly pleased to make these announcements. In these trying times, it is great that we are in a position to deliver a record cash dividend to the people who have helped build this company.
– Ed Hegland, Board Chair
AgCountry Farm Credit Services is excited to announce that a record $60 million in cash dividends will be paid to eligible member-owners in March of 2020. Since 2014, AgCountry patrons have received over $195 million in cash patronage.

The Board of Directors is also announcing that going forward, it is the cooperative’s intention to target payment of a one percent cash dividend on all eligible business barring unforeseen events and assuming AgCountry continues to meet its financial goals.

AgCountry’s patronage program grants the Board of Directors the ability to distribute a portion of the association’s net income to its member-owners when financial conditions allow for it. This marks the seventh consecutive year AgCountry is paying a cash dividend. 

“The Board is truly pleased to make these announcements,” said Board Chair Ed Hegland. “In these trying times, it is great that we are in a position to deliver a record cash dividend to the people who have helped build this company.”

“This announcement further demonstrates our deep commitment to serving agriculture and rural America,” said AgCountry President and CEO Marc Knisely. “Our record cash dividend payment is the latest in a series of actions we have taken over the past few years to help better position our patrons, such as holding on interest rate hikes while rates were rising and then lowering rates once the Federal Reserve decided to make cuts.”