Fonterra will confirm its full year earnings and dividend when it reports its financial results next month. Photo:
Dairy co-operative Fonterra has revised up its full year profit outlook to the top end of its forecast range.
The company expected its normalised profit to end the year at the top of its forecast range of 65-to-80 cents per share for the year ended July.
"Furthermore, we expect to pay a full year dividend at the top end of our dividend policy, which is 40-to-60 percent of normalised earnings," chief executive Miles Hurrell said.
He said the improved guidance followed a strong financial year, with favourable Ingredients margins.
Fonterra last week revised down its milk price for this season, with a drop in the opening price for next season, given falling demand and lower global dairy prices.
"As we close out our books, we're in a position to provide further guidance on where we expect to end the year," Hurrell said.
The full year dividend would include the interim dividend of 10 cents per share, which had already paid, plus the final dividend expected to be paid in October.
Fonterra will confirm its final full year earnings and dividend when it reports its financial results next month.
