AgCountry to Return $60 Million in Cash Patronage
Minnesota Ag Connection - 01/10/2020
AgCountry Farm Credit Services announced it will return a record $60 million in cash patronage to eligible member-owners for 2019. This marks the largest patronage amount to date for the cooperative.
The North Dakota-based institution, which also has locations in Wisconsin and Minnesota, has dispersed over $195 million in cash patronage to its members since 2014.
"The board is truly pleased to make these announcements," said Board Chair Leif Aakre. "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."
The patronage program gives the board 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 has paid out a patronage dividend to its member-owners.