Dividend increase: Nutrien

Article Excerpt

NUTRIEN LTD. $65 (Toronto symbol NTR; Cyclical-Growth Payer Portfolio, Resources sector; Shares outstanding: 572.9 million; Market cap: $37.2 billion; Dividend yield: 3.7%; Dividend Sustainability Rating: Average; www.nutrien.com) took its current form on January 1, 2018, through the merger of Agrium (old symbol AGU) and rival fertilizer producer Potash Corp. of Saskatchewan (old symbol POT). In addition to selling bulk fertilizers, the new firm sells agricultural supplies to farmers through over 1,700 retail outlets in seven countries. Starting with the October 2019 payment, Nutrien will increase its quarterly dividend by 4.7%. Investors will then receive $0.45 U.S. a share instead of $0.43 U.S. The new annual rate of $1.80 U.S. yields 3.7%. Nutrien is a buy. buy…