The Government has received a $10 million special dividend from Landcorp Farming Limited, as part of what ministers say is a stronger financial performance from state-owned enterprises.
State Owned Enterprises Minister Simeon Brown said the payment brings Landcorp’s total returns to the Crown to $25 million for the 2025/26 financial year, aligning with expectations for government-owned companies to generate value for taxpayers.
Brown said the dividend reflects confidence in Landcorp’s financial position and its improving performance, citing recent results that point to a solid full-year outcome driven by operational improvements and favourable commodity prices.
He added that funds returned to the Crown contribute to public spending priorities, including infrastructure and frontline services.
The special dividend follows a $9.5 million capital repayment Landcorp received as a shareholder in Fonterra. The payment is considered a one-off and sits outside Landcorp’s standard dividend policy, effectively passing through the non-operational gain to the Government.
I remember when $10 million sounded like a lot of money – but that was last century.