FSF - Fonterra Shareholders Fund

Left Field · Mar 10, 2025, 08:38 AM

An upgrade.... good news for holders and farmers.

https://www.nzx.com/announcements/448080

LoungeLizard · May 14, 2025, 06:24 PM

Not many of us investing in / following FSF. Been on a bit of a tear following:

https://api.nzx.com/public/announcement/451558/attachment/443261/451558-443261.pdf

Pretty compelling metrics - an expected 47c per share FY25 dividend together with a "possibly significant return to shareholders" on the Consumer divestment. What can go wrong?

Disc. holding.

BlackPeter · May 15, 2025, 08:33 AM

Quote from: LoungeLizard on May 14, 2025, 06:24 PMNot many of us investing in / following FSF. Been on a bit of a tear following:

https://api.nzx.com/public/announcement/451558/attachment/443261/451558-443261.pdf

Pretty compelling metrics - an expected 47c per share FY25 dividend together with a "possibly significant return to shareholders" on the Consumer divestment. What can go wrong?

Disc. holding.

Currently a great share for holders with extremely short memories. FSF holders have been fleezed by farmer shareholders (the people who sold the shares but kept the control of Fonterra) for many years.

Enjoy your short term income if and when it comes ... but don't complain when the Fonterra board next time decides again to tilt the playing board and fleeze the FSF shareholders to please the controlling farmers (who sold their shares but kept the control of the board).

LoungeLizard · May 15, 2025, 08:56 AM

Quote from: BlackPeter on May 15, 2025, 08:33 AMCurrently a great share for holders with extremely short memories. FSF holders have been fleezed by farmer shareholders (the people who sold the shares but kept the control of Fonterra) for many years.

Enjoy your short term income if and when it comes ... but don't complain when the Fonterra board next time decides again to tilt the playing board and fleeze the FSF shareholders to please the controlling farmers (who sold their shares but kept the control of the board).

I'm aware of the history of the stock. And of Fontera's checkered management history.

Short term income? This year FSF are committed to paying at least 47c per share. Last year it was 55c. The year before that $1 incl a 50c special dividend. A year ago the SP was $3.66. It's now $6.27.

One can't be complacent with any stock, but I've banked enough profits to be a comfortable holder.

Basil · May 15, 2025, 09:22 AM

Congrats LL, enjoy your win. Dairy currently in an unprecedented boom but has always been a cyclical industry and always will be. I'm sure you're smart enough to dance close to the exit door and when the worm turns....

Left Field · May 15, 2025, 09:24 AM

Quote from: LoungeLizard on May 15, 2025, 08:56 AMI'm aware of the history of the stock. And of Fontera's chequered management history.

Short term income? This year FSF are committed to paying at least 47c per share. Last year it was 55c. The year before that $1 incl a 50c special dividend. A year ago the SP was $3.66. It's now $6.27.

One can't be complacent with any stock, but I've banked enough profits to be a comfortable holder.

Well done.

Over the last 5 yrs. FSF has been the best NZ Milk industry investment.

LoungeLizard · May 15, 2025, 09:54 AM

Quote from: Basil on May 15, 2025, 09:22 AMCongrats LL, enjoy your win. Dairy currently in an unprecedented boom but has always been a cyclical industry and always will be. I'm sure you're smart enough to dance close to the exit door and when the worm turns....

Thanks Basil. And, as in any good western, always sit facing the door, so you can see who's coming and going!

LoungeLizard · May 29, 2025, 10:20 AM

https://www.nzx.com/announcements/452438

LoungeLizard · Jun 26, 2025, 02:53 PM

$6.80 - all time high. With minimum 20-25c dividend final dividend plus the chance of a special dividend plus a capital return to come, seems like the market has woken up!

Habitz · Jun 26, 2025, 03:15 PM

Quote from: LoungeLizard on Jun 26, 2025, 02:53 PM$6.80 - all time high. With minimum 20-25c dividend final dividend plus the chance of a special dividend plus a capital return to come, seems like the market has woken up!

Seen that action today, the good yield is what's doing it. Strangely, farmer only shares haven't moved

Otago K · Jun 26, 2025, 03:58 PM

Quote from: Habitz on Jun 26, 2025, 03:15 PMSeen that action today, the good yield is what's doing it. Strangely, farmer only shares haven't moved

Too much money from the milk cheques lately perhaps, plus I think not as much of a cash return component for them, some (around half) gets allocated as an offset somewhere if I am not mistaken.

mike2023 · Jun 26, 2025, 04:33 PM

Quote from: LoungeLizard on Jun 26, 2025, 02:53 PM$6.80 - all time high. With minimum 20-25c dividend final dividend plus the chance of a special dividend plus a capital return to come, seems like the market has woken up!

Pretty sure they hit 8 bucks over 20 years ago...

Habitz · Jun 26, 2025, 06:14 PM

Quote from: Otago K on Jun 26, 2025, 03:58 PMToo much money from the milk cheques lately perhaps, plus I think not as much of a cash return component for them, some (around half) gets allocated as an offset somewhere if I am not mistaken.

Not enough money from the milk cheques which explains farmers cashing in their shares. Btw one FCG share receives the same ord dividend etc, as one FSF unit. Not sure why dairy farmers are not investing in the best return and now safest yield. $2 gap

LoungeLizard · Jul 30, 2025, 11:23 AM

FSF still going strong. Over $7 at one point. A year ago it less than $4. That's some gain!

LoungeLizard · Aug 11, 2025, 10:12 AM

Looks like the $7 resistance level has gone. Onwards and upwards from here. End of year result should be a good one, some form of capital return is likely in the near future, and a final dividend in excess of 20c (could be a lot more) is on the cards. When any/all of these get announced the SP could blow imo.