Fonterra maintains forecast payout, says recent gains not enough for a rise

Wed, 25 Feb 2015

By Paul McBeth Feb. 26 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, maintained its forecast payout to farmer shareholders for the current season, saying recent gains in whole milk powder weren't enough to warrant an increase. The Auckland-based company held the forecast at $4.70 per kilogram of milk solids, down from a record $8.40/kgMS last season, while maintaining guidance for a dividend range of between 25 cents and 35 cents per share. Whole milk powder prices have gained 45 percent at Fonterra's...

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