The Board of Directors of U.S. Tobacco Cooperative Inc. (USTC), an industry leader in growing, processing and manufacturing of high-quality, U.S. flue-cured tobacco, is offering its 2010 Certificates of Equity for voluntary redemption. Current and former Cooperative members that sold tobacco to USTC during the 2010 year will be eligible to redeem $2.3 million worth of Certificates of Equity.
Over the last 4 years, USTC has returned approximately $49 million to its growers through patronage dividends, tax deductions and certificate redemptions. “We know that the 2016 crop was tough for tobacco and other crops as well. Weather patterns, currency rates and overproduction have all contributed to a very difficult economic cycle for agriculture.” said Stuart Thompson, CEO. “We exist for the benefit of our growers and felt that offering these certificates for redemption would be a welcome source of cash for many of our growers. It also demonstrates the Cooperative’s commitment to rotating equity.”
2010 certificate holders will receive the necessary form to voluntarily redeem their certificates within the next few weeks. Forms will need to be completed and returned to 1304 Annapolis Drive, Raleigh, NC 27608 by the deadline of February 28, 2017.
For more information on U.S. Tobacco Cooperative Inc., visit www.usleaf.com.