
The Economy Hub: Fonterra in a race it can't win
Fonterra's increased dividend payment isn't enough for most farmers to pay their interest bill, says Jacqueline Rowarth.
Fonterra's increased dividend payment isn't enough for most farmers to pay their interest bill, says Jacqueline Rowarth.
COMMENT: Fonterra has made the right call by accelerating dividend payments instead of extending its dairy farmer shareholders loan package, writes Fran O'Sullivan.
Fonterra has confirmed the closure of its cheese plant in Kaikoura next month.
New Zealand's largest dairy cooperative is planning to close its cheese plant in the South Island town of Kaikoura.
The Fonterra Shareholders' Fund meeting heard the payout to farmers would be $390 million.
Fonterra has affirmed its guidance for the 2016 milk payout to farmers, although chairman John Wilson said it was dependent on next year's global dairy prices.
Fonterra CEO Theo Spierings has centralised control of the company's Chinese farming hubs into a new standalone business unit to make faster progress growing its milk pools in China.