Fonterra has announced strong profit and an increased dividend for its FY24 interim results.
Reported profit after tax for the dairy co-operative was $674 million, marking a 23% increase from the previous year.
Earnings before interest and tax from continuing operations also saw a rise of 14% to $986m.
Fonterra's interim dividend for farmer shareholders and unit holders has been raised to 15 cents per share, up from 10 cents per share.
The company maintained its forecast earnings guidance for the year of 50-65 cents per share.
In addition, the forecast farmgate milk price range was narrowed to $7.50-$8.10 per kilogram of milk solids, with forecast milk collections down 1% to 1,465 million kgMS.
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