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Shareholders’ Council Comment On Forecast Payout
10 June 2004
Shareholders’ Council Comment On Forecast Payout
Fonterra’s Shareholders’ Council welcomed today’s announcement of a lift in the forecast payout for the 2003/04 season.
The Co-operative increased the forecast payout for the 2003/04 season to $4.23 per kg/ms, eight cents higher than the previous forecast. The company has also raised its forecast payout for the 2004/05 season from $3.50 per kg/ms to $3.85 per kg/ms.
Council Acting Chair Blue Read said: “This announcement will be welcomed by Fonterra farmers because an increase in payout will bring immediate on farm benefits.
“The increase in the forecast payout for the 2004/05 season is also encouraging. This pricing signal will help Fonterra farmers plan ahead and should give them the confidence to make investment decisions regarding their businesses.”
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