Australia's Nufarm drops on HY earnings miss, lower dividend

Nufarm

23/05/2024 02:30

** Shares of Nufarm  NUF.AX  fall as much as 14.9% to
A$4.330, posting their biggest intraday percentage decline since
May 24, 2022
    ** Stock hits its lowest level since Nov. 10, 2023
    ** Crop protection and seed technology co posts first-half
underlying EBITDA of A$217 mln ($143.63 mln), below a Visible
Alpha consensus estimate of A$246 mln, according to brokerage
Citi
    ** Declares interim dividend of 4 AU cents per share, below
last year's 5 AU cents
    ** About 1.4 mln shares change hands, compared with the
30-day average volume of around 818,000
    ** Stock down 2.5% YTD, based on last close

($1 = 1.5108 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))