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Pictured: Jeff Einck, CEO Manager (left) is shown presenting a retirement check to Lee Vande Griend and Josh Bonnstetter, Board Chairman (right) presents a check to Glen Schoolmeester.
The Board of Directors of the Chandler Coop recently voted to retire patron stock in the amount of
$576,243 to our 138 agronomy and energy patrons born in 1954 and 1938.
Chandler Coop’s equity management plan consists of paying various forms of equity throughout the year.
1. September: We pay patrons the current year local savings at our annual meeting. 40% is paid in cash and 60% is retained in the Coop for operating capital and equipment and facility improvements.
2. December: We pay out 100% of our patrons’ equity when they turn 70 and 85, which is what we are doing today.
3. March: We retire the retained equity back to our patrons. This past year we paid out patron equity for the second half of 2010 and all of 2011.
4. Throughout the year: We pay estates of our loyal patrons. In 2023, patrons earned 6.27% of equity on their business they did with the Cooperative. Altogether, Chandler Coop’s total 2023 patronage dividend and retired equities totaled $3.4 million.
