Matt Bolger returns to Fonterra to lead co-operative affairs division
Fonterra's co-op model and what it does for New Zealand has lured one of its bright stars back on board.
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.
