Investor Information

Under our  Flexible Shareholding capital structure, farmers who supply milk to Fonterra need to hold a minimum of one share for every three kilograms of milk solids (kgMS) supplied and can hold up to a maximum of four shares for every kilogram of milk solids supplied, enabling shareholders to adjust their investment depending on their farming operations and financial circumstances. Holding shares in our Co-operative, gives our farmers ownership of their Co-op, voting rights in proportion with their milk supply, and the right to receive any dividends or other distributions. The Fonterra Shareholders’ Fund (the Fund) is the other key part to our Co-operative’s capital structure. The Fund gives members of the public who are not permitted to hold Fonterra shares the ability to invest in the economic rights of Fonterra shares (such as distributions or dividends) by purchasing units in the Fund. Like any member of the public, farmers can also trade units in the Fund.

What is Flexible Shareholding?

We introduced our Flexible Shareholding capital structure in March 2023 to make it easier for new farmers to join our Co-op, and for existing farmers to remain with our Co-op, by allowing flexibility in the level of investment required. Flexible Shareholding enables Sharemilkers, Contract Milkers and Farm Lessors supplying Fonterra to join and hold shares.