Nutrien expands in South America

Article Excerpt

NUTRIEN LTD. $111 is a buy. The company (Toronto symbol NTR; Cyclical-Growth Payer Portfolio, Resources sector; Shares outstanding: 538.9 million; Market cap: $59.8 billion; Dividend yield: 2.3%; Dividend Sustainability Rating: Above Average; www.nutrien.com) is the world’s largest producer of agricultural fertilizers. Nutrien last raised your quarterly dividend with the April 2022 payment. Investors now receive $0.48 U.S. a share, up 4.3% from $0.46 U.S. The new annual rate of $1.92 U.S. yields 2.3% The company will now pay an undisclosed sum for Casa do Adubo S.A. It sell seeds, fertilizer and crop protection products to farmers in Brazil through 39 locations and 10 distribution centres. Following the purchase, Nutrien will have 180 retail stores, plants and blending facilities in Latin America. The new operations will add $400 million U.S. to its annual sales of $35.4 billion U.S. Nutrien remains a buy. buy…