Silver Fern Farms shareholders to receive dividend

Silver Fern Farms Co-operative Ltd shareholders will receive a $34.5million special dividend on February 14 - the first dividend since 2008.

The dividend of 30c per share on all ordinary shares and rebate shares followed completion of the joint venture with Shanghai Maling in December.

In a statement, Silver Fern Farms Co-operative chairman Rob Hewett said the dividend would be welcomed by shareholders.

''Their support and patience as we have developed our Plate to Pasture value added strategy over the past seven years has been critical to Silver Fern Farms,'' he said.

Following distribution of the dividend and the redemption of supplier investment shares completed last week, the co-operative would have distributed a total of $40million to shareholders, he said.

Silver Fern Farms Co-operative now held a 50% share in Silver Fern Farms Ltd and about $17million in cash.

The use of that cash would be determined by the co-operative board but was expected to be available for ongoing redemption of eligible rebate shares, running costs of the co-operative and potentially future distributions, Mr Hewett said.

The record date for eligibility to receive the special dividend was 5pm on January 30. The dividend would be unimputed.

Earlier this week, Silver Fern Farms announced its full-year financial results, posting a $30.6million after-tax loss.