Friday, 11 August 2023 10:06

Strong dividend for Fonterra shareholders

Written by  Sudesh Kissun
Fonterra chief executive Miles Hurrell. Fonterra chief executive Miles Hurrell.

Fonterra says it’s full-year dividend will be at the top end of its forecast range of 65-80c/share.

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.

More like this

Chinese strategy

OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.

LCAs tackle false narratives

The quest to measure, report and make sense of the energy that goes into food production has come a long way in the past 25 years.

$3b windfall?

Fonterra's proposed sale of its global consumer business could fetch over $3 billion but not all proceeds will end up in the pockets of farmer shareholders.

Featured

Better animal genetic gain system

A governance group has been formed, following extensive sector consultation, to implement the recommendations from the Industry Working Group's (IWG) final report and is said to be forming a 'road map' for improving New Zealand's animal genetic gain system.

SIDE 2025's new schedule, venue

Annual farmer gathering, the South Island Dairy Event (SIDE), is set to make history as it heads to Timaru for the first time.

Taranaki piggery goes solar

Installing 400 solar panels at their Taranaki piggery and cropping operation will have significant environmental, financial and animal welfare benefits for the Stanley family.

Editorial: Keep FTAs coming

OPINION: The dairy industry will  be a major beneficiary of a new free trade deal between NZ and the Gulf Co-operation Council (GCC).

National

Organic sector backtracks on GE

Organics Aotearoa New Zealand (OANZ) says the Government’s new gene editing and genetic modification reforms could leave New Zealand as…

$3b windfall?

Fonterra's proposed sale of its global consumer business could fetch over $3 billion but not all proceeds will end up…

Machinery & Products

Milk Sustainability Centre launched

The recently announced Milk Sustainability Centre – a collaboration between global giant John Deere and milking and feed specialists De…

Data connection made easier

New Holland and Case IH are introducing new advancements in their precision technology stack to make farming easier and more…

» Latest Print Issues Online

Milking It

Chinese strategy

OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.

Not fair

OPINION: The Listener's latest piece on winter grazing among Southland dairy farmers leaves much to be desired.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter