Nutrien Ltd. (Nutrien) announced today that its Board of Directors has
approved an increase in the expected quarterly dividend from US$0.43 per
share to US$0.45 per share commencing with the quarterly dividend having
a record date at the end of the third quarter 2019 and until otherwise
determined by the Board of Directors.
“We are committed to returning significant capital to shareholders,
including providing investors with a stable and growing dividend. The
increase announced today demonstrates the strength of our integrated
business model and confidence in our ability to generate strong and
growing cash flow,” said Chuck Magro, President and Chief Executive
Officer of Nutrien.
The declaration, amount and payment date of any future dividends by
Nutrien is at the discretion of the Board of Directors and will depend
on numerous factors, including compliance with applicable laws and the
financial performance, debt obligations, working capital requirements
and future capital requirements of Nutrien and its subsidiaries, and the
increased dividend amount will not impact Nutrien’s previously announced
US$0.43 per share dividend declared on May 10, 2019 payable July 18,
2019 to shareholders of record on June 28, 2019.
About Nutrien
Nutrien is the world's largest provider of crop inputs and services,
playing a critical role in helping growers increase food production in a
sustainable manner. We produce and distribute 27 million tonnes of
potash, nitrogen and phosphate products world-wide. With this capability
and our leading agriculture retail network, we are well positioned to
supply the needs of our customers. We operate with a long-term view and
are committed to working with our stakeholders as we address our
economic, environmental and social priorities. The scale and diversity
of our integrated portfolio provides a stable earnings base, multiple
avenues for growth and the opportunity to return capital to shareholders.
Forward-Looking Statements
Certain statements and other information included in this news release
constitute “forward-looking information” or “forward-looking statements”
(collectively, “forward-looking statements”) under applicable securities
laws (such statements are often accompanied by words such as
“anticipate”, “forecast”, “expect”, “believe”, “may”, “will”, “should”,
“estimate”, “intend” or other similar words). All statements in this
document, other than those relating to historical information or current
conditions, are forward-looking statements, including, but not limited
to the declaration and payment of future dividends, including the timing
and amount thereof, and Nutrien’s business priorities. These
forward-looking statements are subject to a number of assumptions, risks
and uncertainties, many of which are beyond our control, which could
cause actual results to differ materially from such forward-looking
statements. As such, undue reliance should not be placed on these
forward-looking statements.
All of the forward-looking statements are qualified by the assumptions
that are stated or inherent in such forward- looking statements,
including the assumptions referred to below and elsewhere in this news
release. Although Nutrien believes that these assumptions are
reasonable, this list is not exhaustive of the factors that may affect
any of the forward-looking statements and the reader should not place an
undue reliance on these assumptions and such forward-looking statements.
The additional key assumptions that have been made include, among other
things, assumptions with respect to Nutrien's ability to successfully
integrate and realize the anticipated benefits of its already completed
and future acquisitions, and that we will be able to implement our
standards, controls, procedures and policies at any acquired businesses
to realize the expected synergies; that future business, regulatory and
industry conditions will be within the parameters expected by Nutrien,
including with respect to prices, margins, demand, supply, product
availability, supplier agreements, availability and cost of labor and
interest, exchange and effective tax rates; the completion of our
expansion projects on schedule, as planned and on budget; assumptions
with respect to global economic conditions and the accuracy of our
market outlook expectations for 2019 and in the future (including as
outlined under “Market Outlook” and on page 62 of our 2018 Annual
Report); the adequacy of our cash generated from operations and our
ability to access our credit facilities or capital markets for
additional sources of financing; our ability to identify suitable
candidates for acquisitions and divestitures and negotiate acceptable
terms; ability to maintain investment grade rating and achieve our
performance targets; assumptions in respect of our ability to sell
equity positions, including the ability to find suitable buyers at
expected prices and successfully complete such transactions in a timely
manner; the receipt, on time, of all necessary permits, utilities and
project approvals with respect to our expansion projects and that we
will have the resources necessary to meet the projects’ approach.
Events or circumstances that could cause actual results to differ
materially from those in the forward-looking statements include, but are
not limited to: general global economic, market and business conditions;
the failure to successfully integrate and realize the expected synergies
associated with the merger, including within the expected timeframe;
weather conditions, including impacts from regional flooding and/or
drought conditions; crop planted acreage, yield and prices; the supply
and demand and price levels for our products; governmental and
regulatory requirements and actions by governmental authorities,
including changes in government policy, government ownership
requirements, changes in environmental, tax and other laws or
regulations and the interpretation thereof; political risks, including
civil unrest, actions by armed groups or conflict and malicious acts
including terrorism; the occurrence of a major environmental or safety
incident; innovation and security risks related to our systems; the
inability to find suitable buyers for our equity positions and
counterparty and transaction risk associated therewith; regional natural
gas supply restrictions; counterparty and sovereign risk; delays in
completion of turnarounds at our major facilities; gas supply
interruptions at our Egyptian and Argentinian facilities; any
significant impairment of the carrying value of certain assets; risks
related to reputational loss; certain complications that may arise in
our mining processes; the ability to attract, engage and retain skilled
employees and strikes or other forms of work stoppages; and other risk
factors detailed from time to time in Nutrien reports filed with the
Canadian securities regulators and the Securities and Exchange
Commission in the United States.
Nutrien disclaims any intention or obligation to update or revise any
forward-looking statements in this document as a result of new
information or future events, except as may be required under applicable
US federal securities laws or applicable Canadian securities legislation.
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