Fonterra Shares Hit Early 2018 Peak on Record Dividend, Robust Unit Profits

New Zealand's Fonterra posted stronger annual operating profit across its businesses and declared a record full-year dividend on Thursday, sending its shares to their highest level in more than seven years.

The Auckland-headquartered firm ended 1.7% higher at NZ$6.10, their strongest close since February 2018.

Operating profit across Fonterra's divisions rose, with its ingredients arm up 17.4% on better margins from an improved product mix and food service up nearly 9% on strong volumes.

The consumer business posted a 16.1% gain in normalised profit from discontinued operations...

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