PERRY, IA – Farm Credit Services of America (FCSAmerica) announced that eligible customer-owners in Dallas County will receive checks this month totaling $1,248,000.00 – their share of the financial cooperative’s $160 million cash-back dividend for 2016.
FCSAmerica has distributed a portion of its net earnings to eligible customer-owners for each of the past 13 years, returning $1.3 billion in cash-back dividends to farmers, ranchers and their rural communities.
The share of FCSAmerica’s 2016 dividend returned to Iowa customer-owners amounts to $65.6 million. Eligible customer-owners served by FCSAmerica in Central Iowa received a total of $10,813,000.00 million in cash-back dividends as part of the 2016 patronage program.
“While we’re always proud to return a portion of our profits with our customer-owners, we are particularly pleased to share our financial strength with producers in a challenging agricultural environment,” said Alan Erickson, Central Iowa regional vice president of FCSAmerica. “Our cash-back dividends are testament to our cooperative-business model and our commitment to supporting agriculture and rural communities through every economic cycle.”
Each eligible customer’s cash-back dividend is based on the average loan volume during the calendar year. The more eligible loan business customers have with the cooperative, the more they benefit financially through cash-back dividends.
The FCSAmerica Board of Directors approves each year’s cash-back distribution in December based on a number of factors, including the cooperative’s financial performance. During the 13 years that FCSAmerica has distributed cash-back dividends, net income has grown to $510 million from $294 million and members’ equity has increased to $4.7 billion from $1.5 billion.
For more information on the 2016 cash-back dividend, including county-by-county distributions, visit powerofownership.com.
About Farm Credit Services of America
Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers. With assets of more than $26.4 billion, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. For more information, visit fcsamerica.com.