Fonterra adds $50m to its jawboning on shares’ value

Fonterra chair Peter McBride says the co-operative is “sort of in a state of flux”. (Image: Fonterra)

Thu, 09 Jun 2022

Fonterra’s board was obviously encouraged by what a little jawboning did for its flagging share price last week and so has decided to put $50 million where its mouth was.That’s the amount the dairy giant may spend for up to 12 months from June 30 on buying back its own shares – and that amount is over and above the $300m it had already pledged to spend supporting the share price after its restructure.The shares had fallen to a record low at $2.22 in late May before Fonterra chair Peter McBride wrote to farmers on May 30 expres...

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