The Zespri Board approved the intention to declare a 2017 final fully-imputed dividend of 17 cents per share, payable in August, bringing the total dividend to 25 cents a share.

The returns are based on outstanding returns for Gold kiwifruit, says board chairman Peter McBride.

'Zespri achieved an average per-tray return for the Gold pool of $8.64 – up from $8.21 in 2015 – despite supply increasing to 48.5 million trays from 32.6 million trays in 2015/16.

'Average per-hectare returns increased by 39 percent to $98,838. The customer and consumer response to SunGold continues to be very positive, supporting our confidence in market demand.”

The season was challenging in several respects says Peter.

'A sharp increase in Green volume and a late start to the season due to delayed maturity put pressure on pricing but record average yields of 12,281 trays per hectare meant the industry could achieve per-hectare returns of $53,555.

'This is the third season in a row that Zespri has delivered average Green returns of over $50,000 a hectare.”

The Green return per tray was $4.36, down from $5.13 per tray in 2015/16.

The average per-hectare return of $54,427 (2015/16: $52,917) for Organic Green is a record result for the category, supported by strong yields, although the return on a per tray basis fell to $6.86 per tray (2015/16: $7.18).

The return per tray for Green14 (Sweet Green) was $5.79 (2015/16: $7.01) but the average per-hectare return increased to $45,853, driven by higher average yields as orchards came into full production.

Zespri's distributable profit range for the 2017/18 financial year is expected to be $101 million to $106 million, based on the forecast net profit after tax range announced in April.

Zespri expects to distribute dividends within the range of 80 to 90 percent, subject to meeting all financial obligations including solvency before and after distribution. An interim dividend is normally paid in December and the Board will consider making an additional interim dividend in August 2017.

'We can be satisfied overall with performance in the season, with a good result delivered despite the challenges of a sharp increase in supply and a relatively late harvest.

'The task ahead is to continue to deliver long-term value for growers and shareholders through consistent and disciplined implementation of our strategy.”

Zespri Chief Executive Lain Jager notes the volume outlook for 2017/18 is slightly down on last season but still the second-largest crop in the company's history.

'Supplied SunGold volumes will increase to around 55 million trays but seasonal factors will see Green volumes fall back to around 69 million trays supplied, versus 83 million trays sold last year.

'Our sales and marketing teams are launching programmes in 59 countries and working hard to maximise value to growers and shareholders through great campaigns and promotions in support of our premium kiwifruit,” says Laine.