Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
THE FONTERRA Shareholders' Council says the final payout of $6.16 ($5.84 farmgate milk price and 32c dividend) for a fully shared-up farmer was an accurate reflection of the season.
Council chairman, Ian Brown: "Given the pressure placed on Fonterra by this year's drought and the unpredictability experienced in international markets the cooperative has delivered a satisfactory return for farmers."
Brown says the success of the integrated ANZ (Australia/New Zealand) business, which has encountered tough market conditions of late, is vital for Fonterra.
"The ANZ business has been working hard to adapt to the changing Australian business environment," says Brown.
"Accordingly, changes have been made to the ANZ business, there's a cost associated with these and the council will continue to monitor the situation."
Brown was satisfied with the final dividend and said the co-op had once again displayed a welcome degree of pragmatism in its decision on retentions given the cash flow issues being faced by some Farmers.
"That Fonterra delivered a final dividend of 32 cents provides the council with sufficient confidence that the business is working efficiently.
"LATAM (Latin America) and AME (Asia/Middle East) have again delivered at a local level and New Zealand Milk Products had a solid year.
"We are pleased with the current status of the gearing ratio as this will allow flexibility moving forward.
"Farmers will be happy to put the climatic challenges of last season behind them and are buoyed by the forecast payout for next season."
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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