Landcorp strategy of dairy investment over dividends at odds with government's surplus goal

Landcorp strategy of dairy investment over dividends at odds with government's surplus goal
By Tina Morrison Aug. 27 (BusinessDesk) - Landcorp Farming, which is taking on debt to convert former forestry land into dairy farms, won't pay a dividend this year, highlighting the friction between the state-owned farmer's long-term strategy and the government's demand for regular payments in preference to investment. New Zealand's largest corporate farmer posted an 84 percent decline in annual profit to $4.9 million, in line with its forecast of $1 million to $6 million, as revenue fell 12 percent to $213.5 million on weak milk and lam...