Farm Credit Services of America authorizes $130 million in dividends
Farm Credit Services of America (FCSAmerica), a financial cooperative with more than $18 billion in assets, has approved a 2012 cash-back dividend of $130 million to its eligible customer-owners.
FCSAmerica operates an office in Imperial.
The $130 million cash-back dividend is another significant distribution of FCSAmerica’s net earnings to its customer-owners. The 2012 distribution is the cooperative’s ninth consecutive.
Since 2004, FCSAmerica has distributed $685 million cash-back dividends back to its customers to support their operations and benefit the communities they call home.
“Farm Credit Services of America has been consistent through agriculture’s good times and challenging times and is financially strong,” said Robert Bruxvoort, board chairman.
“The board is very pleased to approve the sizeable $130 million cash-back distribution,” he said.
The FCSAmerica Board also approved a patronage program for 2013 at their meeting last week.
For 2012, each customer’s cash-back dividend from the program is based on the customer’s average loan volume during the calendar year. The more eligible loan business a customer has with the cooperative, the more they benefit financially from the patronage program.
Eligible customers can expect 2012 payments to be distributed in March 2013.