AgTexas had another solid year in 2016, and is delighted to share the news of another RECORD-SETTING patronage payout. Despite low commodity prices, many of you were able to take advantage of good weather and better than expected yields to maximize production. All things considered, 2016 turned out to be a favorable year across the entire AgTexas territory.
Profitable operations for YOUR association means EXCELLENT PATRONAGE payouts to you, the OWNER. Based on our 2016 operations, AgTexas is returning $14.8 million in patronage; $12.2 million payable in cash and the remainder in a non-qualified allocation* to be paid to stockholders in the future. The enclosed check represents your share. Please review it carefully for detailed information and reach out to your local branch office if you have any questions.
Thank you for your business and continued support of your cooperative. I join the entire AgTexas team in saying, “Your SUCCESS is our PURPOSE.”
*This year’s non-qualified allocation is not taxable to the recipient until it is revolved in cash in the future.
Each member's patronage refund is based on the proportion of interest earned on their loan to the total interest earned by the association. A patronage refund may be paid in cash, allocated surplus, stock or any combination of these items. The distribution of profits to our members effectively reduces the cost of borrowing money.