Ann: Fonterra updates on Q3, Milk Price and capital return, page-4

I just found this on their website...

“We are aiming for a record date for the proposed tax free capital return in late September 2023, with cash to be received by our farmer owners and unit holders the following month."

So now that they have brought forward the capital return to August, if they're following a similar timeline the record date will be July. We might see a flurry of purchasing as traders try to time the record date to get the 50 cents per share, which Fonterra says is tax free.