Fonterra Cooperative Group [FCG], the world’s largest dairy exporter, has avoided weakening its balance sheet by providing support to farmers via a higher first-half dividend while shifting production to higher-margin goods to lift profit as sales fell, says a news outlet..
According to NBR news report, Auckland-based Fonterra doubled its first-half dividend to 20 cents and will make early payment of the final 20 cent payment, in two increments in May and August.
It didn’t extend the interest-free loan package that’s been taken up by 76 percent of farmer-shareholders at a cost of $390 million.
