Court rejects Greenpeace's attempt to block green hydrogen project
An attempt by Greenpeace to block the consent of a green hydrogen project involving fertiliser co-operative Ballance has been dismissed by the Court of Appeal.
The ranks of Ballance shareholders continue to grow with latest signings of more than 1000 new members bringing shareholder numbers up to a record 19,253.
This follows a boost to the agri-nutrient cooperative’s shareholder numbers in the prior financial year, when another 1000 new farmers signed up to benefit from rebates and dividends.
Taking into account shareholdings redeemed the net increase in shareholders since 2013 totals 936.
Ballance chair David Peacocke says the continued growth trend is pleasing and reflects ongoing confidence in the co-operative.
“This year our solid financial performance meant we were able to return some cash to farmers early, announcing and paying our rebate and dividend averaging $60 per tonne in the same week.”
The rebate, averaging $55.83 a tonne along with a 10-cent dividend per share saw a total distribution to shareholders of $76 million paid on 31 July. This equates to 94% of Ballance’s $81 million gross trading result. A total of $54 million was paid out in cash.
“The early rebate payment has been met with a huge positive response from our shareholders, who’ve really appreciated the injection of cash on-farm at a time when cash flow is limited,” says Peacocke.
“We are seeing farm sizes grow and actual farm numbers decrease, so we are doing well to attract new shareholders while retaining those on the registry. Our consistent track record with rebates and our good dividend performance work in our favour, alongside our policy of keeping our products as competitive as they can be, taking into account market movements in fertiliser demand and pricing.”
Returns to shareholders vary according to tonnages and product purchased over the financial year, but a fully paid up shareholder who purchased 100 tonnes received about $6000 this year, says Peacocke.
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
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.
Horticulture NZ chief executive Nadine Tunley will step down in August.