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CHS Returns $225 Million to Owners

 

ST. PAUL, Minn., March 4 /PRNewswire-FirstCall/ -- CHS Inc. (Nasdaq: CHSCP) owners in 48 states will share in an up to $225 million disbursement during 2010 as a result of the leading energy and grain-based foods company's strong fiscal 2009 earnings. The distribution is the fourth-largest in the company's 80-year history.

The $190 million distribution made recently consisted of cash patronage and CHS preferred stock issued to redeem previously earned member equity.  Additional distributions of equity and preferred stock dividends later this year are expected to bring the fiscal 2010 total to $225 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. "Amid very challenging economic conditions, the strong performance the company achieved during fiscal 2009 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, 2009, was $381 million.

During 2010, distributions are being made to more than 1,000 member companies and more than 37,000 individuals.  Patronage is based on business done with CHS during fiscal 2009, while equity redemptions and preferred stock distributions represent retirement of ownership in CHS earned in past years.

State by state, approximate distributions:


State

Checks to member

co-ops and individuals

Total cash patronage and preferred stock distributed

Alabama

7

$206,000

Alaska

8

$1,400

Arizona

41

$27,200

Arkansas

48

$2.5 million

California

122

$16,500

Colorado

363

$5.4 million

Connecticut

2

$1,262

Delaware

1

$96

Florida

27

$8,200

Georgia

8

$2,700

Hawaii

7

$1,700

Idaho

1,032

$2.3 million

Illinois

212

$3.1 million

Indiana

45

$649,000

Iowa

1,136

$15.6 million

Kansas

1,336

$17 million

Kentucky

5

$392,000

Louisiana

22

$89,000

Maine

1

$586

Maryland

8

$1,600

Massachusetts

9

$9,200

Michigan

31

$98,000

Minnesota

11,053

$39.8 million

Mississippi

45

$536,000

Missouri

24

$2.1 million

Montana

4,824

$9 million

Nebraska

1,889

$14.3 million

Nevada

11

$23,600

New Hampshire

3

$1,700

New Jersey

4

$2,500

New Mexico

11

$3,100

New York

8

$6,000

North Carolina

11

$6,000

North Dakota

7,599

$34.9 million

Ohio

45

$420,000

Pennsylvania

3

$342

Oklahoma

594

$2.5 million

Oregon

122

$1.4 million

South Dakota

6,280

$15.9 million

Tennessee

11

$16,300

Texas

174

$2.8 million

Utah

16

$30,600

Virginia

14

$10,500

Washington

1,797

$5 million

Wisconsin

415

$16 million

Wyoming

45

$1 million



CHS Inc. (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® 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, 2009, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.

SOURCE CHS Inc.

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