Fonterra affirms milk payout forecast, lowers dividend guidance as profit falls

Fonterra Cooperative Group, the world’s biggest dairy exporter, affirmed its milk payout forecast and lowered guidance for dividends, while posting a 16 percent drop in first-half profit it says reflected “tough conditions in dairy.”

The forecast payout for the current season was affirmed at $4.70 per kilogram of milk solids, down from a record $8.40/kgMS last season, while guidance for dividends was trimmed to a range of 20 cents to 30 cents, from a previous 25 cents to 35 cents.… Full Story →

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