(York, NE) – Central Valley Ag (CVA) continues to give back to member-owners, demonstrating the cooperative spirit. Recently, CVA’s Board of Directors approved the distribution of patronage to its member-owners. A total payout of $18.0 Million was approved based on Central Valley Ag’s continuing success. $10.8 Million will be returned in cash, while the remaining $7.2 Million has been allocated as non-qualified equity to be returned in a future year.
“I am proud of CVA’s performance, and our ability to deliver these payments to our patrons,” said Carl Dickinson, CEO of Central Valley Ag. “We truly appreciate the business of our member-owners and are excited to share in the success of the cooperative.”
Patronage is calculated based on volume during CVA’s fiscal year. Fiscal Year 2021 began September 1, 2020 and ended on August 31, 2021. Checks were mailed to patrons on December 16, 2021.
CVA is also passing through $8.73 million in Section 199 Tax Deductions to the members who marketed their grain through Central Valley Ag. 199 Notifications were mailed to qualifying patrons on December 16, 2021.
The success of Central Valley Ag is a result of its member-owners support, Board of Director’s vision, and the employee’s dedication to excellent customer service.