Potash Corporation raises quarterly dividend 9% to 38 cents US a share

SASKATOON – Potash Corporation of Saskatchewan Inc. announced a nine per cent increase in its quarterly dividend Wednesday, a day before the fertilizer giant releases its fourth-quarter and year-end results.

Saskatoon-based PotashCorp (TSX:POT) said the dividend, announced after markets closed, will rise three cents to 38 cents US per share, payable May 4 to shareholders of record on April 13.

“With our potash expansion program nearing completion, our board and management team continue to review our future cash flow potential and the best opportunities to provide superior returns to our shareholders,” president and CEO Jochen Tilk said in a release announcing the increase.

“This increase reflects the confidence we have in our business model and the belief that dividends will continue as an important element of our capital allocation strategy.”