AgStar Earnings

AgStar Financial Services' Board of Directors has approved the retirement of its 2003 patronage allocations. With the retirement, AgStar distributed $22,800,000 in earnings to more than 11,400 eligible stockholders.

Board of Directors Chairman Lowell Schafer said in 2012 AgStar, based in Mankato, has distributed $40,000,000 in patronage dividends.

The patronage program was implemented in 1998 and targets a seven to 10 year retirement timeframe of non-qualified dividends. Yearly allocations are based on company earnings and the amount of products or services a stockholder purchases from AgStar during the year.

AgStar has allocated $336 million in patronage dividends and retired more than $80 million to qualified stockholders.