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Fonterra Slashes Dividend, Earnings Forecast On High Dairy Input Costs
date:Dec 11, 2013
ced some losses and were last at NZ$5.80.

The shares have been falling steadily since September on concerns that higher farmgate prices would weigh on earnings.

I don't know if people believed they would cut the dividend ... so that was the biggest surprise, said Rickey Ward, head of equities at Tyndall Investment Management.

That's why the share price has fallen heavily today.

Owned by about 10,500 farmers, the New Zealand milk co-operative, generates around 7 percent of the country's gross

12/25 12:04