Fonterra's forecast share dividend too low, unitholder tells annual meeting

Fri, 14 Nov 2014

By Fiona Rotherham Nov. 14 (BusinessDesk) - The Fonterra Shareholders' Fund, which holds 7.5 percent of the world’s largest dairy exporter, should be able to raise its 2015 dividend forecast given it expects to pay farmers less for their milk, reducing its input costs, a unitholder told the fund's annual meeting in Auckland. Fonterra Cooperative Group has forecast a farmgate milk price of $5.30 per kilogram of milk solids and a dividend in the range of 25-35 cents per share. Last season’s dividend fell significantly to just 10cps on the b...

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