Farm Credit Services of America this week reported that the quarter raised its nine-month net income to $91.2 million -- 12.5 percent better than a year ago. Third-quarter net income totaled $31.7 million, compared to $25 million for the same period in 2003.
FCSA plans to distribute a dividend of about $55 million to its shareholder-farmers and ranchers in Nebraska, Iowa, South Dakota and Wyoming.
The federally backed lender also announced that Dutch-based Rabobank is disputing the termination of a sale agreement it had with FCSA. Farm Credit's board is evaluating that dispute.