Landcorp pays special dividend on sale of Westland shares

Thu, 29 Aug 2019

By Paul McBeth Aug. 30 (BusinessDesk) - Landcorp Farming, which trades as Pamu, will pay a $5 million special dividend to the government from its gain on the sale of its Westland Dairy Cooperative Shares. The state-owned farmer held about 3.25 million shares, or 4.5 percent, of the Hokitika-based cooperative, which it sold to Inner Mongolia Yili Industrial Group for $3.41 per share, or about $11.1 million. Landcorp's shareholding ministers are Finance Minister Grant Robertson and associate SOE Minister Shane Jones. Westland sharehold...

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