Photo / SuppliedDairy giant Fonterra said its net profit dropped by $60 million in its latest financial year, driven by high milk prices - its main input cost. The co-op announced a dividend of 15c a share, taking the total to 20c, compared with last year's total of just 5c. New maximum shareholding requirement - set at 4x milk supply, compared to the current 2x milk supply. The Co-operative has sourced expert advice to determine the measures it would take to support liquidity. "We see total New Zealand milk supply as likely to decline, and flat at best.

Source: Otago Daily Times September 22, 2021 21:22 UTC