A settlement will spur this dividend: Nutrien

Article Excerpt

NUTRIEN LTD. $68 is a buy. The company (Toronto symbol NTR; Cyclical-Growth Payer Portfolio, Resources sector; Shares o/s: 569.2 million; Market cap: $38.7 billion; Dividend yield: 3.4%; Dividend Sustainability Rating: Average; www.nutrien.com) is the world’s largest producer of agricultural fertilizers. Starting with the April 2021 payment, Nutrien will raise your quarterly dividend by 2.2%. Investors will then receive $0.46 U.S. a share instead of $0.45 U.S. The new annual rate of $1.84 U.S. yields a solid 3.4%. The company has settled a dispute with the Egyptian government over its 26% stake in the state-owned Misr Fertilizers Production Company (MOPCO). Under the terms of the settlement, Nutrien will drop all claims and sell its stake to the Egyptian government for $540 million U.S. That cash will help fund your higher dividend. Nutrien is a buy. buy…