Superior Ag cooperative announces payouts to members
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Huntingburg-based agricultural cooperative Superior Ag announced this week it will payout close to $2.5 million back to its members.
The cooperative started in 2007 and serves farmers in southwest Indiana. The $2.5 million being paid back to members represents 97% of the cooperative’s profits.
Of that total, Superior Ag says $1.3 million will be in the form of cash payments, while $870,000 will be in equity credits as a 60-40 cash-to-equity split.
“Superior Ag is a member-owned cooperative controlled by the same local farmers who use our products and services each day,” CEO Richard Lloyd said in a release. “We are proud that our members share in the cooperative’s success. In the coming months, we will allocate over $2.1 million to Superior Ag member-owners from 2024 earnings.”
Superior Ag also announced it has lowered the age-based member equity payout to 75 years old, down from 80, which resulted in over $380,000 in equity redemption.
Superior Ag says it has over 2,700 members throughout southwestern Indiana, northern Kentucky and southeastern Illinois. Superior Ag also has an ownership stake with SynEnergy.