Fonterra to spend up to $50m to support flagging share price

Wed, 08 Jun 2022

Fonterra said it plans to spend up to $50 million on buying back its own shares from June 30.The move is in reaction to the steep decline in the share price following Fonterra’s announcement on May 6 last year to restructure its capital base.The shares, which can be owned only by farmers, closed Tuesday at $2.50, up from their record low at $2.22 late last month but down from $4.56 on May 5, 2021.Chair Peter McBride said Fonterra has “looked at prevailing prices” alongside the co-operative’s strategy and overall business...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

Bell Potter boosts Santana target price 53.5%

Aussie brokers increasingly like the look of a low-cost, high yield Otago gold play.

Pattrick Smellie 12:00pm

The Quiz Free

QuiznessDesk: Friday, April 19

Test your smarts against our Quizmaster.

The Quizmaster 9:15am

Media

WBD shifts risk with news deal

Warner Bros Discovery has engineered a low-risk news strategy as it cuts costs in NZ.

Daniel Dunkley 5:00am

Sponsored

Boosting rural growth with innovation

Productivity and sustainability go hand in hand for the rural sector

ASB Scam Update

Sponsored

Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts