Australia's GrainCorp rises on dividend declaration, strong forecast
16/05/2024 03:53
** Shares of GrainCorp GNC.AX rise as much as 6.8% to
A$8.620, set to gain most since Nov.17, 2023 if current trends
hold
** Diversified agribusiness firm declares interim dividend
of 24 AU cents per share
** Co says recent rainfall and a healthy soil moisture are
supporting "strong planting period" in ECA (East Coast
Australia) for its 2024/25 winter crop
** Adds, "northern regions expected to rebound from 2023/24"
** Stock marks its highest level since April 30
** Stock has risen 10.7% this year, as of last close
(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com;))