Owners and investors

Owners and investors


CHS is committed to providing value for all our owners, including 900 member cooperatives that represent 500,000 farmers and ranchers, plus 75,000 individual farmers and ranchers who sell grain directly to CHS.

Equity management

The CHS Board has identified the need to make changes to our equity management program to ensure it remains valuable to owners. Learn more.

CHS Board representation

At the 2023 CHS Annual Meeting, CHS owners will be asked to approve amendments to the CHS Bylaws adjusting the number of CHS Directors per region to better reflect the CHS ownership base.


The cooperative patronage model supports farmers and rural America by returning a proportion of the profits to owners. When a cooperative board calculates patronage, it determines what portion will be retained as member equity in the organization, a key source of capital for cooperative maintenance and growth. CHS has returned $3.1 billion in cash patronage and equities to its owners in the past 10 years.

For equity questions, call 800-535-4645 or 651-355-6124 or email CHS Patron Equities.

Patronage Application
Redemption Policy

Preferred stock

CHS uses proceeds from preferred stock to maintain a strong balance sheet and fuel growth. Five classes of non-voting preferred stock provide capital for CHS investments: 8% Cumulative Redeemable Preferred Stock (CHSCP) and Class B Cumulative Redeemable Preferred Stock, Series 1 (CHSCO), Series 2 (CHSCN), Series 3 (CHSCM), Series 4 (CHSCL). All CHS classes of preferred stock trade on the NASDAQ Global Select Market. Dividends, as declared by the company’s board of directors, are paid on a quarterly basis.

For questions on selling or transferring CHS preferred stock, contact:
EQ Shareowner Services
PO Box 64854
St Paul, MN 55164-0854
Phone: 1-800-468-9716 (toll-free)
Phone: 651-450-4064

For overnight deliveries or walk-in service:
EQ Shareowner Services
1110 Centre Pointe Curve, Suite 101
Mendota Heights, MN 55120-4100

Form 8937 filings
Form 8937

Answers to questions about CHS preferred stock

The five series of CHS preferred stock become redeemable, at the option of CHS, on various dates between July 18, 2023, and January 21, 2025. The specific date that each series becomes redeemable is as follows:

Series Trading symbol Redeemable beginning
8% Cumulative Redeemable Preferred Stock CHSCP July 18, 2023
Class B Cumulative Redeemable Preferred Stock, Series 1 CHSCO Sept. 26, 2023
Class B Reset Rate Cumulative Redeemable Preferred Stock, Series 2 CHSCN March 31, 2024
Class B Reset Rate Cumulative Redeemable Preferred Stock, Series 3 CHSCM Sept. 30, 2024
Class B Cumulative Redeemable Preferred Stock, Series 4 CHSCL Jan. 21, 2025

No. The preferred stock is not redeemable by CHS prior to the applicable date shown in the previous answer. Nevertheless, CHS may at any time, and from time to time, in compliance with applicable law, purchase shares of preferred stock on the open market, pursuant to a tender offer or otherwise, at whatever price or prices and other terms it determines. However, CHS is not permitted to make any purchases of preferred stock at a time when there are accumulated but unpaid dividends for one or more past dividend periods.

If any series of preferred stock, or a portion of a series, is called for redemption by CHS, the shareholder is obligated to participate in the redemption and cannot choose to retain the preferred stock.

No. If CHS chooses to redeem a particular series of its preferred stock, or a portion of a series, it is not required to redeem any of its other series of preferred stock.

No. CHS may choose to redeem all or only a portion of the outstanding shares of a particular series of preferred stock. However, CHS may not redeem less than all of the outstanding shares of a particular series unless all dividends accumulated and unpaid upon all then outstanding shares of that series have been paid for all past dividend periods.

If less than all shares of a particular series of preferred stock are to be redeemed, CHS will designate by lot, or in such other manner as the CHS Board of Directors may determine, the particular shares to be redeemed, or CHS will affect such redemption pro rata from the holders of record of such series.

If CHS chooses to redeem a holder’s preferred stock, a written notice of redemption will be given to the holders of record of the shares to be redeemed not less than 30 days and, in the case of the four series of CHS Class B preferred stock, not less than 30 nor more than 60 days prior to the redemption date. In addition to any other information required by law, the notice will state: 1) the redemption date; 2) the redemption price; 3) the number of shares to be redeemed; 4) the time, place and manner in which the holder must surrender the applicable shares to CHS, including the steps the holder should take with respect to any certificates representing shares that have been lost, stolen or destroyed or for any uncertificated shares; and 5) that dividends on the shares to be redeemed will cease to accumulate on the redemption date, assuming payment of the redemption price is made on such date. If fewer than all shares of the applicable series held by the holder are to be redeemed, the notice will also specify the number of shares of that series to be redeemed from the holder.

If a series of preferred stock, or a portion of a series, is redeemed by CHS, the shareholder will receive a cash payment equal to the per share liquidation preference of $25.00, plus all dividends accumulated and unpaid on that share up to and including the date of redemption.

To sell or transfer the shares of preferred stock, the individual would need authorization from the organization or cooperative to do so. Please contact EQ Shareowner Services at 1-800-468-9716 to obtain additional guidance on this process.

Please contact EQ Shareowner Services at 1-800-468-9716 (toll-free) or 651-450-4064.

CHS Annual Meeting Jay Debertin speaking.

CHS Annual Meeting

CHS Directors and management share news, financial updates and progress on initiatives at the CHS Annual Meeting each year in early December. The annual meeting gives owners the opportunity to participate in the governance of their cooperative, create connections, ask questions and voice concerns.

CHS Annual Meeting

2022 CHS Annual Report

CHS Board meeting

CHS Board of Directors

CHS is governed by a 17-member board elected by our producer and member cooperative owners. We welcome fresh ideas and invite cooperative farmer-owners to consider becoming candidates for the CHS Board of Directors.

Learn more about leadership opportunities

Learn more about the CHS Directors

There are six charters that define the respective roles, responsibilities and authorities of the CHS Board of Directors as they govern the cooperative.

Audit Committee
Capital Committee
Corporate Risk Committee 
Executive Committee 
Government Relations Committee 
Governance Committee

View the latest CHS quarterly financial information

View financial reports


At CHS, we take pride in doing what’s right. The CHS Code of Conduct, which we amended and restated in January 2019, outlines company procedures on legal, regulatory and ethical issues. If you believe someone may be violating the law, the principles or standards included in the CHS Code of Conduct or any applicable compliance policy or procedure, report the violation by email, calling the CHS Compliance Helpline at 888-264-0995 or visiting the CHS Compliance Helpline website.


Learn more about our business partner expectations that apply to third-party partners who conduct business with or on behalf of CHS.