|Bid||2.5600 x 586600|
|Ask||2.6000 x 161000|
|Day's Range||2.5900 - 2.6000|
|52 Week Range||2.2200 - 3.1600|
|Beta (5Y Monthly)||-0.16|
|PE Ratio (TTM)||7.81|
|Earnings Date||Mar 15, 2023 - Mar 21, 2023|
|Forward Dividend & Yield||0.20 (7.69%)|
|Ex-Dividend Date||Sep 28, 2022|
|1y Target Est||N/A|
The dairy firm's farmer shareholders in December last year gave the go-ahead for the capital restructuring that aims to claw back domestic market share and retain existing farmers by reducing the minimum supply requirement for farmer owners. "We believe late March is the best date for implementation because it avoids our share trading black-out period associated with the Co-op's interim results," Fonterra Chairman Peter McBride said. "It also gives shareholders time to fully digest the detailed information we will be sending through ahead of the implementation date, and to seek advice from their financial advisors."
The divestment is part of Fonterra's renewed focus on bolstering its operations in New Zealand as it phases out its overseas milk pools, while reducing debt. The process to hive off its Chilean operations, Soprole, began in April this year and will be conducted through "a number of transactions" involving sale of shares in a Fonterra holding company, the dairy exporter said.
The underwhelming share price performance of Fonterra Co-operative Group Limited ( NZSE:FCG ) in the past three years...