April 17, 2017
Capital Farm Credit returns $57.2 million to borrowers
This month, Capital Farm Credit is returning $57.2 million cash to its members in the form of patronage dividends. In addition, we're setting aside $77.8 million in Allocated Equities for future distribution to our members, for a total 2017 patronage declaration of $135 million.
"We take great pride in having one of the strongest patronage dividend programs in the country," said Ben Novosad, chief executive officer. "We return almost all of our earnings back to our members. Over the last decade, we've returned more than half a billion dollars."
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Capital Farm Credit has a long tradition of strong earnings, which accrues to the benefit of our members. We bring value to our members by delivering credit and other financially related services to them effectively and efficiently. As we return the earnings through our patronage dividend program, we effectively lower the cost of doing business for these farmers and ranchers, which helps to strengthen the agricultural economy and rural communities we serve.
"As a borrower-owned cooperative, our members are also our owners," said Novosad. "Together we share a partnership that really pays. When Capital Farm Credit is successful, our members are successful. We're in this together, and together we're better."
"We're proud to support rural Texas communities and agriculture with reliable, consistent credit and financial services by providing farmers and ranchers with the capital they need to make their businesses successful," he added.