For 17 consecutive years, cooperative has shared its success through cash-back dividends
OMAHA, NEBRASKA – The Board of Directors for Frontier Farm Credit announced today that it will distribute a cash-back dividend for the 17th consecutive year to the farmers and ranchers it serves in eastern Kansas.
The Board of Directors approved a regular cash-back dividend equal to 100 basis points, or 1% of a customer’s eligible average daily loan balance, as part of the financial cooperative’s 2020 patronage program. This equates to an estimated $19 million of Frontier Farm Credit’s 2020 net earnings going back to farmers and ranchers in January to invest in their operations, families and rural communities. Since 2004, Frontier Farm Credit has returned more than $133 million to eligible customer-owners.
“After 17 years, our cash-back dividend program is part of our value proposition that customer-owners can count on,” said Mark Jensen, CEO and president of Frontier Farm Credit. “In this time of uncertainty, dependability from your lender has never been more important to agriculture.”
The 2020 regular dividend checks will be mailed to eligible customer-owners the week of January 25, 2021. The Board of Directors has approved a cash-back dividend program for 2021, with the amount of the distribution to be decided in December 2021.
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 $2.3 billion in assets and $504 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 frontierfarmcredit.com.
