PotashCorp increases quarterly dividend by 50 per cent to 21 cents

Potash Corp. of Saskatchewan Inc. (TSX:POT) increased its quarterly dividend Thursday by 50 per cent.

The company said it would now pay a quarterly dividend to shareholders of 21 cents per share, up from 14 cents, starting with the Nov. 5 payment.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Sign up for weekly money newsletter Get Started

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

Based on the company’s share price Thursday, the stock will have an annual yield of about two per cent with the new dividend rate.

“As we near completion of our potash expansion program, we see tremendous opportunity to continue our long track-record of enhancing shareholder returns through the strategic use of capital,” chief executive Bill Doyle said.

Saskatoon-based Potash is the world’s largest fertilizer company by capacity.

Shares in the company were up 46 cents at $41.38 on the Toronto Stock Exchange on Thursday afternoon.