Topic: How To Invest

Dividend Advisor Hotline – Friday, June 16, 2023

Article Excerpt

NUTRIEN LTD., $79.12, Toronto symbol NTR, is still a buy. The company is the world’s largest producer of agricultural fertilizers. It took its current form on January 1, 2018, when Agrium Inc. (old symbol AGU) merged with rival Potash Corp. of Saskatchewan (old symbol POT). Potash Corp. shareholders received 0.40 shares in Nutrien for each POT share they held; Agrium investors received 2.23 shares for each AGU share. With the April 2023 payment, Nutrien raised your quarterly dividend by 10.4%, to $0.53 U.S. a share from $0.48 U.S. The new annual rate of $2.12 U.S. yields 3.5%. The company also plans to buy back up to 5% of its shares over the next year. Nutrien owns 50% of Canpotex, the marketing joint venture with U.S.-based Mosaic Co. (New York symbol MOS) that sells Canadian-produced potash fertilizer to customers outside Canada and the U.S. Canpotex has signed a new supply deal with China. Under this agreement, which runs until the end of 2023, China will pay…