Hon Simeon Brown
Minister for State Owned Enterprises

The Government will receive a $10 million special dividend from Landcorp Farming Limited today, State Owned Enterprises Minister Simeon Brown says.

“We expect our state-owned enterprises to operate efficiently, maintain strong balance sheets, and return value to New Zealanders,” Mr Brown says.

“Including this payment, Landcorp will have returned a total of $25 million in dividends to the Crown in the 2025/26 financial year, reflecting Shareholding Ministers’ expectations for appropriate capital returns.

“Every dollar returned to the Crown is available to support the Government’s investment in the public services New Zealanders rely on, including schools, hospitals, roads, and frontline services like Police. That is central to our plan to deliver better outcomes for Kiwis.”

“It also demonstrates confidence in Landcorp’s financial position and its ability to deliver consistent value for taxpayers.”

Mr Brown says the dividend follows a capital payment from Fonterra and highlights the strength of Landcorp’s recent turnaround.

“I’m pleased to see the continued improvement in Landcorp’s performance, with recent half-year results pointing to a strong full-year outcome, supported by improved operations and favourable commodity prices.

“This progress reflects disciplined management, a sharper operational focus, and a clear commitment to delivering value for taxpayers.”

Landcorp received a $9.5 million capital repayment as a shareholder in Fonterra. The special dividend represents a pass-through of this non-operating receipt and sits outside Landcorp’s ordinary dividend policy.

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