Posted: Monday, 06 August 2012 6:47AM
AgStar Financial Services is reporting after-tax earnings for mid-year ending June 30th of $48.4 million for the first half of 2012, a $6.4 million increase over last year's first half performance.
The increase in earnings is the result of many variables. Some of the contributing factors include favorable interest rates, strong client satisfaction and loyalty results, increased crop insurance sales and a one-time insurance premium refund.
This month, AgStar is distributing allocation notices to stockholders from 2011 earnings which total $40.3 million. Since 1998, AgStar has allocated over $336 million in patronage dividends to qualified stockholders.