INDEPENDENT NEWS

Advance payout evidence of Fonterra’s strength: Brown

Published: Wed 31 Jul 2013 11:39 AM
31 July 2013
Increased forecast milk price, advance payout evidence of Fonterra’s strength: Brown
A 50 cent increase in the forecast Farmgate Milk Price and advance for the 2013/14 season is reflection of the Co-operative’s strength said Fonterra Shareholders’ Council Chairman, Ian Brown.
The Fonterra Board of Directors today announced a revised Farmgate Milk Price forecast of $7.50 per kg/MS for the 2013/14 season, including a $5.50 advance, and an estimated dividend of 32 cents per share.
Ian Brown: “This outcome is evidence of a strong organisation that has moved appropriately for the benefit of its supplier Shareholders.
“It will allow Fonterra Farmers to improve their financial position, provide them with some added flexibility and enable them to move into the new season with confidence.
“As always, given the volatility of the market, I urge Farmers to continue to show prudence in their financial planning.”
ENDS

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