FSF - Fonterra

[winner69]

For someone holding units, ticker code FSF, did they also have 1/6 cancelled? The yahoo finance app shows the 50c return differently between the units FSF and the shares FCG. The units does not adjust the share price history and the shares have adjusted. Quite strange

The FSF announcement said -

268,208,181 shares were repurchased and cancelled. At the same time, one share held by each shareholder which was not repurchased by Fonterra was subdivided into such number of shares as were repurchased from that shareholder, plus one (1).
The total number of shares on issue following the share repurchase and subdivision is 1,609,244,669 (the same as before share repurchase and subdivision).

[mshierlaw]

For someone holding units, ticker code FSF, did they also have 1/6 cancelled? The yahoo finance app shows the 50c return differently between the units FSF and the shares FCG. The units does not adjust the share price history and the shares have adjusted. Quite strange

Totally confusing, double checked my holding & unchanged. The 1/6 applies to FCG only not FSF. FCG holders did get $3 /share which was supposedly a premium.

I remember a similar thing happened to me recently with PGW, I was sure I ended up with nothing extra. Wonder how FCG holders feel?

Agree this is not a dividend but thats how it's being reported by all platforms. I hope my tax is not effected by this.

[Habits]

No wonder the FCGs were whacked and a wide gap has opened. I will follow up

[Habits]

Totally confusing, double checked my holding & unchanged. The 1/6 applies to FCG only not FSF. FCG holders did get $3 /share which was supposedly a premium.

I remember a similar thing happened to me recently with PGW, I was sure I ended up with nothing extra. Wonder how FCG holders feel?

Agree this is not a dividend but thats how it's being reported by all platforms. I hope my tax is not effected by this.

No shareholdings have been reduced, according to my family member who spoke to fonterra rep.

How does that works.

[RTM]

No shareholdings have been reduced, according to my family member who spoke to fonterra rep.

How does that works.

It’s magic.
Explained in the Fonterra documents quite clearly. Winner from memory posted it somewhere below.

[Sideshow Bob]

https://www.nzx.com/announcements/418592

Fonterra announces FY23 Annual Results
• Full year reported earnings of 95 cents per share, up from 36 cents per share
• Reported profit after tax of $1.6 billion, up 170%
• Return on Capital of 12.4%, up from 6.8%
• Final 2022/23 season Farmgate Milk Price of $8.22 per kgMS
• Full year dividend of 50 cents per share, including interim dividend of 10 cents per share
• Additional tax free 50 cents per share capital return following divestment of Soprole
• Full year milk collections of 1,480 million kgMS
• Forecast 2023/34 season Farmgate Milk Price range of $6.00 - $7.50 per kgMS, with a midpoint of $6.75
• Forecast 2023/24 earnings guidance range of 45-60 cents per share

[mike2020]

Gingos. A dollar returned in 12 months and at 50 cent div a 10 percent return equals what again? I thought this dog had had its day.

[mshierlaw]

https://www.nzx.com/announcements/418592


• Forecast 2023/24 earnings guidance range of 45-60 cents per share

From above guidance next year will be a return to normal. Dividend anything between 18 - 36 cents. Mind you that was what they predicted last year & look what happened

[mike2020]

Yip. Lower milk price and a few less shares and staff. Who knows.

[winner69]

When you join -

Fonterra appoints Chief Financial Officer

Today Fonterra Co-operative Group announced the appointment of Neil Beaumont to the role of Chief Financial Officer, effective early February 2023.

Neil is an accomplished Group CFO, experienced in operating at the most senior levels of global and in complex business environments. Most recently he was Senior Managing Director, Chief Financial and Risk Officer at Canada Pension Plan Investment Board (CPPIB), with responsibility for leading the operations, finance and risk functions for the CAD $500 bn investment fund.

Speaking about the appointment, Fonterra CEO Miles Hurrell says, “We’re delighted to welcome Neil to the team. He’s an experienced global finance leader whose expertise in strategic implementation will be a real asset to our management team.”

Neil has held senior roles at BHP Billiton in Chile and Australia and at KPMG. He is a Chartered Accountant with the Canadian Institute of Chartered Accountants and holds a Bachelor of Commerce from the University of Saskatchewan.

When you leave a few months later

Fonterra has today announced that Chief Financial Officer Neil Beaumont is leaving the Co-operative.

Neil joined the Co-operative in February 2023 and his last day will be the 3rd of November.

Must be heading back home