AgStar is Pleased to Announce the Retirement of
$17.8 Million in Patronage Allocations to Clients
Retiring 2002 allocations to more than 11,400 clients
MANKATO, Minn. (Jan. 31, 2012) - AgStar Financial Services’ Board of Directors has approved the retirement of its 2002 patronage allocations. With the 2002 retirement, AgStar distributed $17.8 million in earnings to more than 11,400 eligible stockholders.
“We’re honored to retire the 2002 patronage allocations to our valued clients,” stated Lowell Schafer, Chairperson of AgStar’s Board of Directors. The program adds value to stockholders who already benefit from AgStar’s expertise and competitive financing. “As a financial cooperative, we’re pleased to share a portion of profits with the individuals who have helped build our success. This cash patronage retirement is just one of the many ways that ownership pays for AgStar stockholders.”
The patronage program was implemented in 1998 and targets a seven to 10 year retirement timeframe of non-qualified dividends. Yearly allocations are based on company earnings and the amount of products or services a stockholder purchases from AgStar during the year. AgStar has allocated $295.9 million in patronage dividends and retired more than $58 million to qualified stockholders.
About AgStar:
AgStar Financial Services, ACA, headquartered in Mankato, Minn., employs more than 600 full-time team members. The company is part of the national Farm Credit System and has a public mission to serve 69 counties in Minnesota and northwest Wisconsin. AgStar’s industry specialization, client segments and market delivery systems result in diversification nationwide. The company has expertise in the corn, soybean, swine, dairy and bio-energy industries. AgStar has developed successful programs in loans, leases, crop insurance, tax services, accounting, consulting and rural home mortgages. As a value-added financial services cooperative, AgStar allocates patronage dividends to its 14,000 stockholders. The company is also committed to giving back to rural residents, organizations and communities through AgStar’s Fund for Rural America. Visit www.AgStar.com for more information.
Contact: Heather Leiferman
Senior Director of Marketing and Public Relations
Heather.Leiferman@AgStar.com
507-529-2087
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