Should help the potash sector a little.
Listed: TSX, NYSE
Symbol: POT
SASKATOON, Jan. 25, 2012 /CNW/ - Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that its Board of Directors has approved an increase of the company's quarterly cash dividend (from
.07 per share to
.14 per share), and declared a quarterly cash dividend of US
.14 per common share payable May 3, 2012 to shareholders of record on April 12, 2012.
"In addition to using our strong cash flow to grow our world-class fertilizer business, we have a proven track record of returning capital to our shareholders," said PotashCorp President and Chief Executive Officer Bill Doyle. "This announcement to double the dividend - the second time in the past year - reflects the confidence we have in the drivers of our business and our commitment to creating superior long-term shareholder value."
Potash Corporation of Saskatchewan Inc. is the world's largest fertilizer enterprise by capacity producing the three primary plant nutrients and a leading supplier to three distinct market categories: agriculture, with the largest capacity in the world in potash, third largest in each of nitrogen and phosphate; animal nutrition, with the world's largest capacity in phosphate feed ingredients; and industrial chemicals, as the largest global producer of industrial nitrogen products and the world's largest capacity for production of purified industrial phosphoric acid. PotashCorp's common shares are listed on the Toronto Stock Exchange and the New York Stock Exchange.