AUDIO REPORT: Jim Knuth, FCSAmerica and Cash-Back Dividends
Farm Credit Services of America is returning more than $296.5 million of its 2021 net income to farmers and ranchers in Iowa, Nebraska, South Dakota and Wyoming.
Jim Knuth, Senior Vice President of FCSAmerica, says cash-back dividend checks were mailed January 27th. For 18 consecutive years, the financial cooperative has shared its success in the form of cash-back dividends. Since 2004, FCSAmerica has returned more than $2.6 billion to eligible customer-owners.
This year?s cash-back dividend is equal to 100 basis points ? or a return of 1% of a customer?s eligible daily 2021 balance with FCSAmerica. In Iowa, this equates to a 2021 payout of $114.5 million. This puts the total net income returned to Iowa farmers, ranchers and agribusinesses in the past 18 years at $1 billion.
The Board of Directors for FCSAmerica also has approved a cash-back dividend to be paid from the cooperative?s 2022 net earnings, the amount of which will be determined in December.
Learn more about cash-back dividends by listening to Jim Knuth?s full interview at the top of this article. You can also visit fcsamerica.com.
