Silver Fern repays wage subsidy, declares $12.4m dividend

Thu, 23 Jul 2020

Silver Fern Farms, the country's largest red meat company, has paid back its $43.3 million covid-19 employee wage subsidy to government and declared a dividend to the shareholder cooperative of $12.4 million. The payments come on the back of the $70.7 million net profit the company announced mid April, with a dividend to its farmer-owned cooperative and co-owner Shanghai Mailing Aquarius deferred at the request of the shareholders until the outlook for the global trading environment had become clearer. The operating company had reported...

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