Fonterra says it won't pay a dividend this year; expects FY loss of up to $675m

Fonterra says it won't pay a dividend this year; expects FY loss of up to $675m
Rebecca Howard
By Rebecca Howard Aug. 12 (BusinessDesk) - Fonterra Cooperative Group said it expects to report a full-year loss of $590 million to $675 million and that it won't pay a dividend as it slashes the carrying value of assets around the world. Chair John Monaghan said in light of the significant write-downs "we have made the call to not pay a dividend for FY19," for the year ending July 31. While the underlying performance is in line with the latest earnings guidance, "we cannot ignore the reported loss," he said. Fonterra reported its firs...

More Primary Sector

CRP's trading halt lifted after clarifying fast-track statements
Primary Sector

CRP's trading halt lifted after clarifying fast-track statements

Chatham Rock Phosphate said it had been requested to apply for the new regime.

Ian Llewellyn 12 Apr 2024
Carbon markets reveal more about policy than politicians
Primary Sector

Pattrick Smellie: Carbon markets reveal more about policy than politicians

The sluggish carbon price tells what you need to know about climate policy.

Pattrick Smellie 12 Apr 2024
New government makes first visit to China
Primary Sector

New government makes first visit to China

The trip aims to support efforts towards doubling the value of  NZ’s exports.

Staff reporters 11 Apr 2024
Is this Synlait's new chair?
Primary Sector

Is this Synlait's new chair?

NZSA says struggling dairy company needs to appoint a permanent chair.