Potash Corporation of Saskatchewan Inc. (POT) announced today that its Board of Directors has approved an increase of the company’s quarterly cash dividend from $0.14 per share to $0.21 per share, and declared a quarterly cash dividend of US $0.21 per common share payable November 5, 2012 to shareholders of record on October 15, 2012.
“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”, said PotashCorp President and Chief Executive Officer Bill Doyle. “This dividend increase – the third in the past two years – not only reflects the strength of our cash flow today, but the confidence we have in the drivers of our business over the long term.”
Potash Corp. peaked today at $43.15 on high volume before settling at $42.53, finishing the day up $0.59.
