Potash Plans 3-For-1 Stock Split, Doubles Dividend
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Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer company, said it would double its quarterly dividend due to its confidence in the crop nutrient market. It will also split its shares to boost liquidity.
The dividend will be 21 cents per pre-split share, up from 10 cents, the Saskatoon, Saskatchewan-based Potash Corp. said in a statement. It has approved a three-for-one stock split that will reduce issued shares to 853 million. The new shares will begin trading on Feb. 14 in Toronto and on Feb. 25 in New York.