Green Light for Fonterra's $3.2b Capital Return Scheme
Fonterra farmer shareholders have approved the mechanism for a $2/share capital return expected from the sale of its global consumer and associated businesses.
Fonterra's regional heads of co-op affairs have been inundated with calls from farmers; the PKE usage guidance came out of the blue and days before the latest round of farmer meetings by directors.
Surely, the co-op could have floated the plan at farmer meetings before going public with it. This is another example of the co-op putting the cart before the horse.
