MKC has announced the allocation of nearly $6M in patronage earnings for fiscal year-end 2012. The allocation is the highest distribution on record for the company.
“This is one of the most rewarding parts of our job,” states Dave Christiansen, MKC President and CEO. “This distribution of profits represents what we’ve been able to generate after we’ve supplied our producers with inputs and purchased our members’ grain – both at very competitive prices. This is a true representation of the potential that exists when working collaboratively.”
Customers who marketed grain with MKC for fiscal year 2012 earned 25.23¢ per bushel in patronage. Patronage was also paid on other goods and services purchased including crop nutrients and protection products, seed, custom application services, feed, petroleum and lubricants. In total, checks that represent 40% of patronage paid in cash were distributed to 2,666 members.