Over 16,000 farmers set for Glanbia share windfall

A strong performance by Glanbia’s nutritional division drove the food producer’s profits before tax to €198.8m as 16,000 farmers are set to receive a windfall of almost 9m plc shares today.

The group recorded overall revenues of €2.9bn on a constant currency basis, despite the fact that earnings from joint ventures and associates declined marginally.

In what will be good news to farmers who held onto the shares they received following the establishment of Glanbia Ingredient International (GII), the board has decided to increase the dividend paid to shareholders by 10% for the third year in a row, with a final dividend of 5.43c per share being recommended.