The co-op is back in the black, after last year's 605-million-dollar wipeout.
It'll pay a dividend of five cents per share on top of the farmgate milk price of seven-dollars-14, per kilo of milk solids.
Agricultural economist Peter Fraser says it's a big relief, after last year's results.
He says Fonterra has spent about 18 months focussing on what it does well - and that's important to maintain during things like the Covid-19 pandemic.
