Fonterra Co-operative Group (FCG) AGM 2026 summary

Opening remarks and agenda

• Chairman welcomed shareholders to the virtual special meeting to consider the proposed capital return and confirmed quorum was met.

• Agenda included remarks on the capital return, resolution approval, Q&A, and voting.

Board and executive committee updates

• Directors, CEO, and Director of Governance, Risk, and Audit were present, with specific mention of Cathy Quinn and Bruce Hassall.

• Co-operative Council members also joined virtually.

Dividend announcements

• Proposed tax-free capital return of NZ$2 per share, totaling approximately NZ$3.2 billion, following the sale of Mainland Group to Lactalis.

• Payment process ensures shareholders retain the same number of shares post-return.

• Each repurchased share will be canceled and remaining shares subdivided to maintain share count.

• Unit holders will also receive the payment, with no change to units on issue.