CHS Distributes Record Returns to Owners
ST. PAUL, Minn., Feb. 13 /PRNewswire-FirstCall/ -- CHS Inc. owners in 48
states are sharing in an unprecedented up to $343 million disbursement as a
result of the leading energy and grain-based foods company's record fiscal
2008 earnings. It marks the fifth consecutive record return to owners by CHS
and is the largest ever made by a U.S. cooperative.
A $231 million distribution currently underway consists of cash patronage,
equity redemption and CHS preferred stock issued as equity redemption.
Distributions of equity and preferred stock dividends later this year are
expected to bring the fiscal 2009 total to $343 million.
'Once again, CHS has demonstrated one of the most important ways we can
deliver on our mission of adding value for all of our stakeholders,' said
Michael Toelle, CHS board chairman. 'The strong performance the company
achieved during fiscal 2008 has enabled CHS to continue to grow, to be
financially sound and to provide a return on our owners' investment in diverse
businesses ranging from energy to grain marketing to food processing.'
CHS net income for its fiscal year ending Aug. 31, 2008, was $803 million.
During 2009, distributions are being made to about 1,200 member companies
and more than 35,000 individuals. Patronage is based on business done with
CHS during fiscal 2008, while equity redemptions and preferred stock
distributions represent retirement of ownership in CHS earned in past years.
CHS Inc. (http://www.chsinc.com) is a diversified energy, grains and foods
company committed to providing the essential resources that enrich lives
around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and
cooperatives, along with thousands of preferred stockholders across the United
States. CHS supplies energy, crop nutrients, grain, livestock feed, food and
food ingredients, along with business solutions including insurance, financial
and risk management services. The company operates petroleum
refineries/pipelines and manufactures, markets and distributes Cenex(R) brand
refined fuels, lubricants, propane and renewable energy products. CHS is
listed on the NASDAQ at CHSCP.
This document contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 that are based on
management's current expectations and assumptions. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from the potential results discussed in
the forward-looking statements. The company undertakes no obligations to
publicly revise any forward-looking statements to reflect future events or
circumstances. For a discussion of additional factors that may materially
affect management's estimates and predictions, please view the CHS Inc. annual
report filed on Form 10-K for the year ended Aug. 31, 2008, which can be found
on the Securities and Exchange Commission web site (http://www.sec.gov) or on
the CHS web site http://www.chsinc.com.
SOURCE CHS Inc.
