AgCountry Farm Credit Services announced it has declared a record cash dividend total of $64 million. Eligible member-owners will receive their dividend in March 2021. Since the inception of the cooperative’s patronage program in 2014, over $259 million has been paid out to AgCountry patrons.
“Last year, the AgCountry Board of Directors announced that it’s our intention to target a 1 percent cash dividend on all eligible business going forward barring unforeseen events,” said Ed Hegland, board chair. “Even with a year that included major disruptions and unforeseen events - like a global pandemic, we are thrilled that AgCountry was able to successfully deliver on that goal.”
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.
“Our members are at the heart of everything we do,” said CEO Marc Knisely. “With all the uncertainty people are facing right now, it is important to provide some peace of mind knowing that we are looking out for the financial interests of those that we serve.”