Fonterra farmers pin hopes on higher dividend following slashed farmgate milk price forecast

Tue, 09 Dec 2014

By Fiona Rotherham Dec. 10 (BusinessDesk) - Dairy farmers facing a slashed farmgate milk price will be pinning their hopes on a boosted dividend from the Fonterra Cooperative Group to bolster their returns. Dairy exporter Fonterra today slashed its forecast farmgate milk price for the 2014/2015 season by 60 cents per kilogram of milk solids to $4.70/kgMS but left the dividend range unchanged at 25-35 cents per share. The reduced milk price forecast translates to a drop of more than $6 billion in dairy industry income, or 2.7 percent of gr...

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