Fonterra expects final dividend, earnings at top end of forecast

Fonterra had previously trimmed its farm gate price
calendar icon 11 August 2023
clock icon 1 minute read

New Zealand's Fonterra Co-operative Group said on Friday it expects to pay dividend and earnings per share at the top end of its forecast range, reported Reuters.

The company benefited largely from favorable ingredients margins, which boosted its earnings for the current year.

The dairy giant expects to pay a dividend at the top end of its estimated range of 40% to 60% of its normalized earnings, which are also expected to be at the higher end of its forecast of 65 to 80 New Zealand cents per share.

Fonterra had previously trimmed its farmgate milk price range forecast for the 2023-24 season, citing  lower import demand for whole milk powder from Greater China.

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