Friday, 11 August 2023 10:06

Strong dividend for Fonterra shareholders

Written by Sudesh Kissun

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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.

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