Fonterra milk exporter to invest $ 2.7 billion in growth to reduce emissions Reuters
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(Reuters) – Fonterra Co-Operative Group Ltd, the world’s largest milk exporter, said on Monday it would invest around NZ 4 billion ($ 2.720 billion) by 2030 to bring milk to higher value products, increase growth and reduce emissions.
The New Zealand company expects to return NZ $ 1 billion over the next decade as a result of rising asset sales and earnings for investors, its chairman and CEO said at an annual meeting.
Fonterra, the owner of the Anchor, De Winkel and Mammoth brands, aims to achieve a zero carbon status by 2050.
The roadmap comes after the company obtained permission to set up a new capital structure for 10,000 shareholder farmers.
The dairy company has seen high demand for its products among the limited global supply and expects demand to continue to grow in the short to medium term. It is also considering an initial public offering of the Australian business, which could return around $ 700 million to shareholders by 2024.
Fonterra said he expects dividends to continue to rise steadily to around 40 cents a share in New Zealand by 2030. Last year he paid 15 cents in New Zealand.
($ 1 = $ 1,4706 New Zealand dollar)
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