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LIC chairman Murray King.
Farmer co-op LIC will pay $18 million in dividends to shareholders after a strong full-year result.
The 12.75c/share dividend represents a gross dividend yield of 22.7% based on the current share price of 78 cents. Last year, the co-operative paid a dividend of 11c.
The breeding and automation company recorded a net profit of $17.5m, down 21% over last year’s $22.2m net profit, mainly due to a $7.2m decrease in the bull team valuation. However, total revenue was up 3% to $254m and underlying earnings up 16% to $22.7m.
LIC chairman Murray King says the strong result was in line with market guidance and achieved despite the impacts of drought and Covid-19.
“The strong result enables LIC to deliver a significant dividend to shareholders at a time when every dollar counts on-farm,” says King.
LIC reported that despite a challenging season, farmers continue to move up the value chain, investing in the latest genomics and other genetics products, driving revenue up.
“The increasing uptake of these products demonstrates the value on-farm of LIC’s ongoing investment to enhance our core genetics business through world-leading genomics to drive genetic gain in dairy herds and high-valued premium genetics products like A2 and sexed semen,” says King.
LIC chief executive David Chin says meeting the revised methane reduction targets will rely on practical science, smart technology, and genuine collaboration across the sector.
Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
The first calves of a new crossbred dairy-beef offering are now on the ground at a Pamu (Landcorp) farm near Taupo.
Academic and former Fonterra director Nicola Shadbolt has been elected as LIC director.
Beef + Lamb New Zealand (B+LNZ) is calling for nominations for director roles in the Eastern North Island and Southern South Island electoral districts.
Going one better than a frustratingly close second place finish at last year's event, the country's top axeman, Jack Jordan of Taumaranui, last weekend won the Stihl Timbersports World Championship individual event in.
Canterbury A&P Association (CAPA) show president Brent Chamberlain says a big development for this year is the Wool Zone, first introduced two years ago as a showplace for everything produced from wool, but now greatly enlarged with its own Wool Marquee and more than 30 trade sites.
Salmonellosis is a serious disease in cattle.
Drench resistance is already hitting farm profits; it's not just a future problem.
Applications are open for Horticulture New Zealand's (HortNZ) 2026 scholarship programme, with 20 funding opportunities available.
