Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
Fonterra says it’s full-year dividend will be at the top end of its forecast range of 65-80c/share.
Chief executive Miles Hurrell says the co-operative is still in the process of finalising and having its financial year 2023 (FY23) numbers audited.
“Fonterra has reported strong earnings through FY23 off the back of favourable Ingredients margins,” he says.
“As we close out our books, we’re in a position to provide further guidance on where we expect to end the year.
“Furthermore, we expect to pay a full year dividend at the top end of our dividend policy, which is 40-60% of normalised earnings,” says Hurrell.
The full year dividend comprises the interim dividend of 10 cents per share already paid, plus the final dividend expected to be paid in October.
Fonterra will confirm its final FY23 earnings and full year dividend when it reports its financial results in September.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
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