Fonterra hikes forecast payout on rising milk prices; won't pay interim dividend

Wed, 27 Feb 2019

By Paul McBeth Feb. 28 (BusinessDesk) - Fonterra Cooperative Group has raised its forecast payout to farmers on rising Asian demand but has canned its interim dividend due to the increased cost. The dairy processor now expects to pay $6.30-6.60 per kilogram of milk solids in the current season, up from its December forecast of $6-6.30/kgMS. It paid $6.69/kgMS in the 2018 season. Fonterra has also scaled back its milk collection forecast by 20 million kg to 1,530 million kgMS, which is still 2 percent more than last season. "Since our...

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