The dairy giant has announced a 23-percent increase in reported earnings.
Its interim dividend has increased from 10 to 15 cents per share.
Fonterra isn't slashing its forecast milk payout, despite the price of whole milk powder dropping 8.6 percent since early February.
It's instead narrowed the forecast Farmgate Milk Price range - keeping the midpoint at 7-dollars-80.
That midpoint is just above what Dairy NZ says farmers need to earn to break even.
