Fonterra plans to close Kaikoura cheese factory
New Zealand's largest dairy cooperative is planning to close its cheese plant in the South Island town of Kaikoura.
New Zealand's largest dairy cooperative is planning to close its cheese plant in the South Island town of Kaikoura.
The Fonterra Shareholders' Fund meeting heard the payout to farmers would be $390 million.
Fonterra has affirmed its guidance for the 2016 milk payout to farmers, although chairman John Wilson said it was dependent on next year's global dairy prices.
Fonterra says it had started a consultation process to gauge interest in a proposed equity partnership trust for its farmers.
The Fonterra Shareholders' Fund should be able to raise its 2015 dividend forecast given it expects to pay farmers less for their milk.
Fonterra CEO Theo Spierings has centralised control of the company's Chinese farming hubs into a new standalone business unit to make faster progress growing its milk pools in China.