Fonterra to pay second largest dividend

Chief executive Miles Hurrell. (Image: NZME)

Wed, 25 Sep 2024

Fonterra Co-operative Group will pay out its second-largest dividend on record.The dairy giant reported its full-year results on Wednesday. The year's earnings were driven by higher margins and increased sales volumes in its food service and consumer channels.Its net profit for the year from continuing operations was $1.168 billion, equivalent to 70 cents per share.Earnings before interest and tax were $1.56b, down on the previous year, which benefitted from elevated price relativities.It reported a return on capital of 11.3% for the year....

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