Farm Credit Services of America Authorizes $130 Million Cash-Back Dividend Payment for 2012
Dec 19, 2012
Omaha, Nebraska – (December 19, 2012) – Farm Credit Services of America (FCSAmerica), a financial cooperative with more than $18 billion in assets, has approved a 2012 cash-back dividend of $130 million to its eligible customer-owners.
The $130 million cash-back dividend is another significant distribution of FCSAmerica’s net earnings to its customer-owners. The 2012 distribution is the cooperative’s ninth consecutive. Since 2004, FCSAmerica has distributed $685 million cash-back dividends back to its customers to support their operations and benefit the communities they call home.
“Farm Credit Services of America has been consistent through agriculture’s good times and challenging times and is financially strong,” said Robert Bruxvoort, Board Chairman. “The Board is very pleased to approve the sizeable $130 million cash-back distribution.”
The FCSAmerica Board also approved a patronage program for 2013 at their meeting this week. The Board will determine the cash-back dividend for the 2013 program in December 2013.
“Farm Credit Services of America’s unique business model, capacity and commitment to agriculture differentiate us,” said Doug Stark, president and CEO. “We’re proud to pay yet another strong cash-back dividend to our customer-owners. We’re also proud to be well-positioned financially to meet their needs and challenges well into the future."
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 2012, 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 2012 payments to be distributed in March 2013.
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 $18 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 fcsamerica.com.