With share prices falling to a six-year low, the Elders chairman bought up big

Mr Wilton yesterday bought 15,000 shares in the company he chairs as those shares plunged to their lowest price in about six years.

Millions more shares were traded in his company yesterday on the stock exchange to take the price further down to finish at $6.64 a share.

They started the week at $8.30 before the sell off began after Monday's subdued six-monthly profit update.

Mr Wilton's share purchase cost just over a $100,000, ASX documents reveal.

Last year's annual report shows Mr Wilton was paid about $300,000 in that financial year as Elders' chairman.

His shareholdings now amount to 146,422 shares in total.

His CEO and managing director Mark Allison holds more than a million shares and is the company's top 10 biggest single shareholders.

Shareholders responded quickly on Monday after they were offered a dividend of 23 cents per share compared with 28 cents last year.

Net profit expectations fall 42 per cent.

Elders cut its interim dividend to 23 cents as half-yearly net profit fell to $48.8 million in the six months ended March 31.

The share price fell to $6.90 on Tuesday after it began trading at $8.30 on Monday and finished that day at $7.20.

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Elders' bosses told the market briefing they expected 2023 earnings to be weighted towards the second half of the year.

The company is tipping its full-year earnings before interest and taxes to range between $180 million-$200 million.

It would still be a 18 per cent fall on the previous strong financial year but a 13pc lift on the year before that (2021 financial year).

Despite the optimism, investors again responded by selling off shares again.

This recent share slide was triggered in November when Mr Allison announced he would be stepping down by November this year.

Mr Wilton said the search for a successor was continuing and the board expected to make a further announcement in July.