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Fonterra announces payout of $6.70 before retentions
Fonterra Co-operative Group Limited has announced its second-highest payout of $6.70 (before retentions) for 2009/10, up from $5.21 last year.
The payout comprises a milk price of $6.10 per kilogram of milk solids (kgMS) and an annual dividend of 27 cents per share, with retentions of 33 cents per share.
This means an average farmer who has 100% share-backed supply for 2009/10 will receive a cash payout of $6.37 for every kgMS supplied during the season, compared with last year’s $5.20 (net of a 1 cent retention).
The payout news came as Fonterra announced an after-tax profit of $685m for the year ended 31 July 2010, 12% higher than the prior year. The profit includes $174m of non-recurring gains, primarily arising from sales of non-strategic assets.
Read the full Fonterra statement at this link.
Source: Fonterra
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