Perpetual, Fonterra’s largest unitholder, happy to ride out short-term pain for longer-term gains

Thu, 12 Dec 2013

By Tina Morrison Dec. 12 (BusinessDesk) – Fonterra Cooperative Group’s largest unitholder is prepared to ride out some short-term pain in the expectation the world’s largest dairy exporter will produce better returns a few years down the track. Auckland-based Fonterra yesterday cut its dividend forecast to 10 cents a share from 32 cents while keeping the milk price at $8.30 a kilogram of milk solids, even though its calculations showed the price should rise to $9 per kgMS. Fonterra pulled back its expected returns as the higher price it is pa...

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