Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra's plan to return $1 billion to farmer shareholders and unit holders within two years remains on track.
This is despite the co-op shelving plans to offload part of its Australian business.
Fonterra chief executive Miles Hurrell says the co-operative remains committed to the capital return.
But he adds that things will depend on the co-op’s debt position and the how much the Soprole business in Chile will fetch.
As part of its strategy to 2030, Fonterra set a goal of a return of about $1 billion to shareholders and unitholders from divestments including Soprole and a stake in the Australian business.
But after looking at options, Fonterra has decided to maintain full ownership of the Australian business.
Australia plays an important role in our consumer strategy with a number of common and complementary brands and products and as a destination for our New Zealand milk solids,” says Hurrell.
“The business is going well, and it will play a key role in helping us get to our 2030 strategic targets.
“Even though we have decided not to sell a stake in our Australian business, we are still committed to targeting a significant capital return to our shareholders and unitholders.
“The amount of any capital return will ultimately be determined on a number of factors, including the successful completion of the divestment programme as well as our ongoing debt and earnings levels.”
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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