Pāmu Confirms $10 Million Special Dividend Following Fonterra Brands Sale

Pāmu (Landcorp Farming Limited) has confirmed a $10 million special dividend to the Crown, reflecting a strong outlook for the business and the capital repayment of $9.5 million received from Fonterra following the sale of its Mainland consumer business.

Including the special dividend, Pāmu will have paid $25 million in dividends to the Crown in the 2025/26 financial year.

Pāmu Chief Executive Mark Leslie said today’s payment reflects disciplined capital management and continued balancesheet resilience.

“This special dividend reflects the progress Pāmu has made in strengthening performance and building balancesheet resilience,” Mr Leslie said.

“Strong performance across the business has delivered a net operating profit of $26 million at the half year, with Pāmu on track for a record fullyear profit of between $97 million and $107 million. As we reach the midpoint of our fiveyear reset, this performance has given the board confidence to make this payment.

“Over the past three years we have been focused on lifting onfarm performance, improving productivity, and running a tighter, more disciplined business. The results we’re seeing reflect the commitment and hard work of our teams across the country.”

“As a State-Owned Enterprise Pāmu manages its land and farming portfolio to deliver a financial return, return land under Te Tiriti o Waitangi settlements, and grow the future of agriculture for generations of New Zealanders. Our strong commercial performance requires high people, environmental, and animal welfare outcomes, as well as responsibility for the communities in which we operate.”

The special dividend represents the passthrough of a nonoperating capital receipt and is separate from the Pāmu ordinary dividend policy and operating results.

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