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1.13%

$3.57 fonterra shareholders' fund

Ann: Fonterra updates on Q3, Milk Price and capital return, page-7

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Pokerface

7,299 Posts.

2667

02/06/23

13:29

Post #: 68100544
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Originally posted by TwoCentsWorth ↑

I'm going to have a think-out-loud about what the dividend might be. They have said 2023 forecast normalised earnings are NZ$0.65-0.80 per share (I can't see why they have such a broad range as they state elsewhere in the report that 95% of milk is contracted for the season). Lets take a conservative approach and call it $0.65. Last season it was $0.28, and they paid out a dividend of $0.20, or the equivalent of 71% of the EPS. Following the same 71% of EPS gives a dividend of NZ$0.46, which at the current price gives a yield of about 13%. A NZ0.46 per share dividend would be the highest dividend ever paid, so you'd think it should correspond to the highest all time share price, but we're a long way off that.

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Normalised earnings are, by my reckoning, 98c per share ytd (33c H1 and a monster 65c Q3). Cannot see it being less than $1.10 for the full year, unless I am missing something.

FSF Price at posting: $3.32 Sentiment: Buy Disclosure: Held
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Last $3.57		Change 0.040(1.13%)		Mkt cap ! $383.4M

Open	High	Low	Value	Volume
$3.56	$3.57	$3.56	$635	178

Buyers (Bids)

No.	Vol.	Price($)
1	127	$3.55

Sellers (Offers)

Price($)	Vol.	No.
$3.57	14	1

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No.	Vol.	Price($)
1	127	3.550
1	3000	3.540
2	1950	3.530
1	10000	3.520
3	14070	3.500

Price($)	Vol.	No.
3.570	14	1
3.590	124	1
3.600	794	2
3.650	6936	1
3.750	176	1

Last trade - 13.53pm 18/07/2024 (20 minute delay)

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