Last $12,250 USD
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As of 4:30 PM 05/27/14 All times are local (Market data is delayed by at least 15 minutes).

cardinal ethanol llc-memb ut (CRDE) Snapshot

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05/27/14 - $12,250
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07/26/13 - $4,305
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cardinal ethanol llc-memb ut (CRDE) Details

Cardinal Ethanol, LLC produces, distributes, and sells fuel-grade ethanol, distillers grains, corn oil, and carbon dioxide in the continental United States. Its ethanol is used as an octane enhancer in fuels, oxygenated fuel additives, and as a non-petroleum-based gasoline substitute; distillers grains are used as animal feed supplement in dairy, beef, poultry, and swine industries; corn oil is used as a feedstock to produce biodiesel, as a feed ingredient, and for other industrial uses; and carbon dioxide is used in the liquefaction plants. Cardinal Ethanol, LLC operates an ethanol plant with a nameplate capacity of 100 million gallons in Union City, Indiana. The company was formerly known as Indiana Ethanol, LLC and changed its name to Cardinal Ethanol, LLC in September 2005. Cardinal Ethanol, LLC was founded in 2005 and is based in Union City, Indiana.

48 Employees
Last Reported Date: 11/27/13
Founded in 2005

cardinal ethanol llc-memb ut (CRDE) Top Compensated Officers

Chief Executive Officer, President and Genera...
Total Annual Compensation: $210.1K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $126.4K
Plant Manager
Total Annual Compensation: $133.1K
Compensation as of Fiscal Year 2013.

cardinal ethanol llc-memb ut (CRDE) Key Developments

Cardinal Ethanol, LLC Declares Cash Distribution

On May 20, 2014, Cardinal Ethanol, LLC's board of directors declared a cash distribution of $1,500 per membership unit to the holders of units of record at the close of business on May 20, 2014 for a total distribution of $21,909,000. The company expects to pay the distribution in early June 2014.

Cardinal Ethanol, LLC Announces Resignation of Adam Zeedyk as Commodity Manager, Effective from April 4, 2014

On March 18, 2014, the board of directors accepted Adam Zeedyk's resignation from his position as the commodity manager of Cardinal Ethanol, LLC. Mr. Zeedyk's last day of employment at the company will be April 4, 2014.

Cardinal Ethanol, LLC Enters into Second Amendment of First Amended and Restated Construction Loan Agreement

On February 27, 2014, Cardinal Ethanol, LLC and its primary lender, First National Bank of Omaha, entered into a Second Amendment of First Amended and Restated Construction Loan Agreement that amends the First Amended and Restated Construction Loan Agreement dated June 10, 2013. In connection with the Amendment, Cardinal also executed a First Amended and Restated Declining Revolving Credit Note dated February 27, 2014 that replaces the Declining Revolving Credit Note dated June 10, 2013. The Amendment reduces the maximum availability of the Declining Revolving Credit Loan from approximately $26,000,000 to $5,000,000. In addition, the Company will now be required to make monthly interest payments on the Declining Revolving Credit Loan rather than the quarterly principal and interest payments previously required. The Amendment also deleted the requirements that Cardinal make excess cash flow payments and maintaina certain Fixed Charge Coverage ratio, increased the maximum annual capital expenditures from $4,000,000 to $5,000,000 and removed the restrictions on redemptions of units and distributions to members. Finally, the Amendment extended the termination date of the Revolving Credit Loan from June 11, 2014 to February 28, 2015.


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Price/Cash Flow 3.1x
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