Fonterra could allow cash-strapped farmers to sell 'wet' shares to reduce debt, analysts say

Tue, 05 Apr 2016

By Fiona Rotherham April 5 (BusinessDesk) - Fonterra Cooperative Group could let farmer shareholders sell “wet shares” – the shares held based on annual milk production - as a way of providing support to its cash-strapped milk suppliers, says broker First NZ Capital. The cooperative’s latest support measure has been to bring forward payment of its forecast 20 cents per share final dividend earlier than usual to get the money into farmers’ hands as quickly as possible given the low forecast milk payout. Last year 76 percent of farmers took...

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