Fonterra shareholders have almost unanimously approved the return of capital following the sale of Soprole in Chile, voting 99.24% of votes cast in favour of the scheme of arrangement.
At a special meeting on July 26 the co-operative said it was on track to make the payment of 50c a share, being around $800 million in total, by the end of August.
Final High Court orders will now be sought for the payment process.
The scheme will also apply to the shares held by the custodian of the Fonterra Shareholders’ Fund, who will pass on the payment directly to unit holders.
