Monster Cooperative CHS to Sell More Preferred Shares
By: Tim McPartland,
Giant agricultural cooperative CHS Inc (Cenex Harvest States) has announced a new preferred stock offering today. CHS has made a number of preferred offerings in the last year as they gather capital to invest in a new fertilizer plant in Spiritwood, North Dakota. This is a huge $3 billion plant which is to be operational in 2018.
CHS recently announced earnings which were stellar even though revenues fell. Their refining business picked up the slack for the softer agricultural sector.
Details of the new offering have not yet been released, but preliminary details are here.
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
