$1b windfall for shareholders
Fonterra's plan to return $1 billion to shareholders in three years through the divestments of overseas milk pools is the right move, according to Waikato farmer Andrew McGiven.
Judging by the performance of Fonterra's share price on the New Zealand Stock Exchange, farmers are still offloading their shares for fear of the prices crashing under a farmers-only trading market.
Since the revised preferred option was unveiled on July 19, the share price has dropped 40c to $3/share.
The share price touched an all-time low of $2.88 six weeks ago and was heading into the same territory last week.
