Fonterra farmers cheer payouts as dividends held unchanged, headwinds loom

Wed, 25 Sep 2013

By Jonathan Underhill Sept. 25 (BusinessDesk) – Fonterra Cooperative Group is promising a record payout to its farmers next year, while keeping dividends unchanged, underlining the competing needs of its suppliers and the investors in its exchange-traded units. Fonterra Shareholders’ Fund units ended the day up 0.4 percent to $7.10, having initially sold off after the world’s biggest dairy exporter posted its full-year results. Normalised earnings before interest and tax fell 3 percent to $1 billion, meeting the guidance it gave in July and...

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