It's delivered an after tax half year Profit of 546-million-dollars, up 50 percent.
Fonterra also plans to return owners 800-million-dollars - once the sale of its Soprole business in Chile concludes.
That'll give farmers about 50 cents a share.
Chief financial officer Neil Beaumont says he's happy to report a strong balance sheet.
He says it's been achieved progressively through improved performance and increased financial discipline.
