High Plains Farm Credit finished the year with over $27 million in record earnings. In doing so, the Board of Directors has agreed to payout the largest ever patronage dividend to the stockholders. The patronage equates to nearly a 0.85% return on business volume totaling, drum roll please, $9,400,000. HPFC team members will be out and about during the upcoming stockholder appreciation dinners to distribute these patronage checks back to the stockholders to be used in the rural communities where they reside.
Another indicator of our financial strength is reflected in the growth of our Preferred Stock program which increased over $1.5M to just over $5M in 2018. Cash dividends are paid semi-annually on all Preferred Investment Accounts which are available to HPFC stockholders. The dividend rate for 2018 was 3.25% and we begin 2019 at 3.5%. Where else can you earn a rate like that on your investment except right here with High Plains Farm Credit!
We know margins are tight as we begin 2019, but we remain committed to our vision and are proud to be your preferred source of agriculture financing. As always, be sure to visit our website at www.HighPlainsFarmCredit.com for more information on any of our programs.
Chief Financial Officer