The Kanza Cooperative Association Board of Directors recently approved patronage dividends for fiscal year 2019 in the amount of $3,333,489. This year 40% of the 2019 patronage allocation is being paid to the membership in most categories, which is an increase from the 35% rate for previous years.
Kanza also received a non-qualified fuel allocation from CHS Inc. This will not be included in the cash patronage payment but $423,556.30 will be added to member equity.
2019 Patronage Rates:
|Wheat, Corn, Milo & Soybean||Bu.||$0.050|
|Fertilizer, Chemical & Seed||Dollar||3.5697%|
|Merchandise & Petroleum*||Dollar||1.8722%|
*Merchandise & Petroleum is being paid at 100% cash patronage.
2019 Non-qualified Allocation Rate:
The Kanza Board of Directors also approved the first of two payments for retirement of equity for 2011 ledger credits. Similar to last year, because of the high number of credits to be redeemed, the redemption fund payment will be conducted in two payments with the first half of the 2011 ledger credits totaling $890,677.88 to be paid now. The second half of credits will be paid in November.
Members can view their equity balance through the Patron Access Portal on the www.kanzacoop.com. A summary of Kanza’s 2019 financials are available here. Additional information regarding the organizations financials will be shared during the District and Annual Meetings, which have been temporarily postponed due to statewide gathering restrictions. The organizations full 2019 financials are available upon request at one of our office locations. If you have any questions about the patronage allocation, retirement of equity or the organizations financials, please feel free to contact us.