Robstown,Texas — Capital Farm Credit Board of Directors recently approved a $55 million cash distribution by retiring a portion of previously-allocated equities.
Combined with cash patronage paid in the spring, Capital Farm Credit has returned record cash distributions totaling $93.4 million, in 2012. Customers will receive their portion of the cash payment this fall.
Capital Farm Credit has a long tradition of strong earnings and, in return, is able to share almost 100 percent of profits with its customers. The ability to return patronage each year affirms Capital Farm Credit’s mission to provide financing and related services to agriculture and rural America, and also affords its membership net borrowing costs lower than many competitors.
“Capital Farm Credit values its customers and the more efficiently we operate, the more profits we can share,” said Ben Novosad, chief executive officer. “We believe this is a value-added service that sets us apart from other financial institutions.”
Capital Farm Credit is the state’s largest rural lender and has 95 years of experience providing financing to farmers, ranchers and other rural property owners. For more information about Capital Farm Credit, its patronage program and its office locations, visit www.CapitalFarmCredit.com.