Fonterra has boosted its distributed profit forecast to up to 50c a share today, but the extra cash will be retained.The diary giant announced this afternoon the distributable profit forecase range for this current financial year was now 40-50c a share, u
Fonterra has boosted its distributed profit forecast to up to 50c a share today, but the extra cash will be retained.
The diary giant announced this afternoon the distributable profit forecase range for this current financial year was now 40-50c a share, up from 35-45c a share.
However, there is no change to the target dividend range of 20-30c a share.
Fonterra advised that indicates 10-30c a share will be retained by the company.
The forecast milk price of $5.70 a kilogram of milksolids for the season was unchanged.
Fonterra chief executive Andrew Ferrier said the increase in the distributable profit range was driven primarily by gains arising from divestments, improved joint venture returns and lower funding costs through improved working capital.
