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.
Fonterra farmers are disappointed with the half-year results announced by Fonterra today, says Fonterra Shareholders Council chairman, Ian Brown.
He says the interim dividend of 10 cents/share and forecast range of 20-30c/share for the 2014-15 season is disappointing, especially given the current milk price.
Brown says farmers were expecting a higher dividend.
"That Fonterra has maintained the 2014-15 forecast farmgate milk price at $4.70/kgMS is a positive given the volatility experienced throughout the season to date however shareholders had an expectation that their cooperative would have delivered a higher dividend," says Brown.
"Shareholders rightfully want to see the strategy provide a return on their investment, especially given the low milk price environment Farmers are currently experiencing. A sound strategy is key to adding value long term and it is important that shareholders understand the factors that influence this."
Brown urged farmers to take the time to ask questions of their board and management at the farmer meetings next week; about 40 farmer meetings are scheduled around the country.
With the low milk price, Brown urged farmers to be prudent in their financial planning and to ensure they place their businesses in the best possible shape for next season.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.