Superior Ag, an agricultural cooperative based in Huntingburg in Dubois County, Indiana, recently approved the payout of $2.5 million back to its member-owners in the form of cash patronage and equity. Each year, Superior Ag members benefit from the company’s success by sharing in the earnings based on the amount of business they do with the cooperative. Superior Ag is proud to denote that 97 percent of profits derived from local earnings are being returned directly to members.
Of the total refunds going out, $1.3 million will be in cash payments and the remaining $870,000 in equity credits as a 60-40 cash-to-equity split. In addition, Superior Ag also redeemed prior equity up to and including 2015 consisting of $783,000. Notably, the Superior Ag Board of Directors approved lowering the age-based member equity payout down to the age of 75 from 80, resulting in an additional $382,000 in equity redemption.
“Superior Ag is a member-owned cooperative controlled by the same local farmers who use our products and services each day,” said Richard Lloyd, President and CEO at Superior Ag. “We are proud that our members share in the cooperative’s success. In the coming months, we will allocate over $2.1 million to Superior Ag member-owners from 2024 earnings. Your cooperative is financially strong and committed to reinvesting to best service customers now and into the future.”
Since 2007, Superior Ag has returned to their members over $33.7 million in cash patronage and over $19.2 million in equity redemptions, for a total of over $53.2 million. Guided by their farmer-led board of directors, Superior Ag continues to serve as a stable and highly dependable source of farm supplies and grain marketing for its members and customers across the region. They remain well-positioned to continue meeting the needs of their customers, thanks to a sound business model, a supportive and well-aligned board, exceptionally strong customer relationships, and a workforce of engaged, knowledgeable and highly talented associates.
Superior Ag currently has 13 agronomy locations, 6 grain elevators, a state-of-the-art feed mill and feed store, and 2 retail fuel stations throughout southwestern Indiana, northern and central Kentucky and the bordering regions of Illinois. The cooperative currently has has over 2,700 members. Any person (individual, corporation, partnership, joint venture, estate, trust or any other entity) who is engaged in the production of agricultural products and who desires to obtain the benefits of Superior Ag may apply to become a member of the cooperative.
To learn more, visit SuperiorAg.com.
Source: Superior Ag