Farm Credit Services of America Authorizes $130 Million Cash-Back Dividend Payment for 2011
Dec 21, 2011
Strong Distribution Emphasizes Cooperative Business Model
Omaha, Nebraska – (December 21, 2011) – Farm Credit Services of America (FCSAmerica), a financial cooperative with more than $16 billion in assets, has approved a 2011 cash-back dividend of $130 million to its eligible loan customers.
The $130 million cash-back dividend is the largest in FCSAmerica’s history. The 2011 payment will bring FCSAmerica’s total cash distributions since 2004 to more than $555 million.
“The positive agriculture environment has had a tremendous impact on profitability and our ability to return a significant cash-back dividend to our customer-owners,” said Dan Shaw, Board Chairman. “This has been a great year financially for the Association as we have been able to achieve strong overall business results while building capital for future generations.”
The FCSAmerica Board also approved a patronage program for 2012 at their meeting this week. The Board will determine the cash-back dividend for the 2012 program in December 2012.
“Our commitment to a meaningful customer experience includes providing our customer-owners customized, competitive financial solutions and cash-back dividends,” said Doug Stark, president and CEO. “Because of our strength, we are uniquely positioned to take a long-term view and ensure our capacity and commitment to meeting the needs of an evolving agriculture.”
Cash-Back Dividend Details
The Board of Directors has paid cash-back dividends, available as part of its patronage program, every year since 2004. For 2011, each customer’s cash-back dividend from the program is based on the customer’s average loan volume during the calendar year. The more eligible loan business a customer has with the cooperative, the more they benefit financially from the patronage program. Eligible customers can expect 2011 payments to be distributed in March 2012.
About Farm Credit Services of America
Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers. With more than $16 billion in assets, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Learn more at www.fcsamerica.com.