Nebraskans will be getting something more than holiday cards in their mailboxes, as the financial cooperative Farm Credit Services of America is sending cash dividend payments to its customers across the region.
The co-op’s chief financial officer Craig Kinnison says this year’s payout is a record 145-million dollars, which is based on performance in the past year and predictions for the year ahead.
“The board takes a look at the year we’ve had in 2013 and we had another very good year of profitability but they also look forward to what type of growth we’ll need to capitalize in the future and what we expect in the industries we serve,” Kinnison says. “Based upon all of that analysis, they’ve determined that 145-million is the amount that we should return to our customer-owners.”
Kinnison says the projections are very positive and helped lead the board to offer another cash-back dividend program in 2014. That would be the 11th year they’ve had this type of return.
“We expect to continue to be able to pay out meaningful patronage on a go-forward basis,” he says. “That is part of the value that we bring back to rural America and back to our customers so it’s something we keenly focus on.”
Kinnison says the 2013 payments will be distributed in the first quarter of 2014. Farm Credit Services of America is based in Omaha and serves ag customers in Nebraska, Iowa, South Dakota and Wyoming.
By Jerry Oster, WNAX, Yankton