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Astral slashes interim dividend as earnings fall

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Feed price and production cost increases could not be recovered by increasing sales due to consumers’ inability to absorb price increases, company says

Poultry producer Astral Foods has cut its half-year dividend by 53% after higher costs and lower selling prices dented profits.

The company said on Monday it will pay an interim dividend of R4.75 a share, versus R10 a year before. The group said poultry imports remain high, equating to about 38% of local production, or an average of 41,771 tons a month.

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