This is despite the co-op shelving plans to offload part of its Australian business.
This is despite the co-op shelving plans to offload part of its Australian business.
Fonterra chief executive Miles Hurrell says the co-operative remains committed to the capital return.
But he adds that things will depend on the co-op’s debt position and the how much the Soprole business in Chile will fetch.
As part of its strategy to 2030, Fonterra set a goal of a return of about $1 billion to shareholders and unitholders from divestments including Soprole and a stake in the Australian business.
Australia plays an important role in our consumer strategy with a number of common and complementary brands and products and as a destination for our New Zealand milk solids,” says Hurrell.
“The business is going well, and it will play a key role in helping us get to our 2030 strategic targets.
“Even though we have decided not to sell a stake in our Australian business, we are still committed to targeting a significant capital return to our shareholders and unitholders.
“The amount of any capital return will ultimately be determined on a number of factors, including the successful completion of the divestment programme as well as our ongoing debt and earnings levels.”
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