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.
Synlait has matched Fonterra in delivering a final milk price of $8.22/kgMS for last season.
In addition, the listed Canterbury processor paid out an average of $0.27/kgMS was paid for incentives, taking the total average milk payment for 2022-23 to $8.49/kgMS.
The base milk price is down from Synlait’s highest payout, $9.30/kgMS, in the prior season.
The company says commodity prices corrected downwards across the 2022-23 season in response to recovering global supplies and softening demand.
Synlait is sticking to its $7/kgMS forecast milk price for this season.
“Increases in the last two Global Dairy Trade events, after a period of significant downward pressure, means Synlait can confirm that its base milk price forecast for the 2023-24 season will remain at $7/kgMS,” it says.
Fonterra last week also delivered a final 2022-23 season farmgate milk price of $8.22/kgMS.
The co-op also announced a strong full year dividend of 50c/share – comprising an interim dividend of 10c/share and a final dividend of 40c/share.
The co-op also pointed out that it recently returned tax free 50c/share to shareholders and unit holders in August, following the divestment of Soprole, giving a final cash pay-out to farmers of $9.22/share backed kgMS.
Fonterra has a forecast 2023/24 Farmgate Milk Price range of $6-$7.50/kgMS, with a midpoint of $6.75, reflecting “reduced demand for whole milk powder from key importing regions”.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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