Cooperative has returned more than $113 million to eastern Kansas producers since 2004
OMAHA, NEBRASKA - The Board of Directors for Frontier Farm Credit announced today that it will distribute a record cash-back dividend to the farmers and ranchers it serves in eastern Kansas.
The Board of Directors approved a cash-back dividend equal to 100 basis points, or 1% of a customer's eligible average daily loan balance, for the financial cooperative's 2019 patronage program. This represents an estimated $17 million of Frontier Farm Credit's 2019 net earnings going back to farmers and ranchers to invest in their operations, families and rural communities. Since 2004, Frontier Farm Credit has returned more than $113 million to eligible customer-owners.
"We built our financial strength for today, when agriculture most needs a reliable lender," said Mark Jensen, CEO and president of Frontier Farm Credit. "Cash-back dividends are a tangible reminder of the benefits of our cooperative business model."
The 2019 dividend checks will be mailed to eligible customer-owners the week of January 27, 2020. This is two months earlier than in past years. The Board of Directors has approved a cash-back dividend program for 2020, with the amount of the distribution to be decided in December 2020.
About Frontier Farm Credit
Frontier Farm Credit is a customer-owned financial cooperative proud to finance the growth of rural America, including the special needs of young and beginning producers. With more than $2 billion in assets and nearly $485 million in members' equity, Frontier Farm Credit is one of the leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in eastern Kansas. Learn more at www.frontierfarmcredit.com.