2 Aug 2013

LIC pays record dividend to farmers

10:25 am on 2 August 2013

Livestock genetics company LIC has announced a record dividend for its dairy farmer shareholders totalling more than $16 million.

That flowed from a 12% increase in revenue and other income for the past year and a $6 million increase in underlying net earnings.

LIC says there's been a growth in demand for its on-farm productivity services, but the shortened dairy season because of the drought meant it carried out fewer herd tests during the autumn.