Business
Nutrien Declares Quarterly Dividend of US$0.40 per Share and Announces Intention to Commence Normal Course Issuer Bid
Nutrien Declares Quarterly Dividend of US$0.40 per Share and Announces Intention to Commen...
About this update from Nutrien Ltd.
[{"type":"text","content":"\n\n\n\nNutrien Declares Quarterly Dividend of US$0.40 per Share and Announces Intention to Commence Normal Course Issuer Bid\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSASKATOON, Feb. 20, 2018\n\n\n\n\n \n\nNYSE, TSX: NTR\n\n\n \n\n\nSASKATOON, Feb. 20, 2018 /CNW/ - Nutrien Ltd. (Nutrien) announced today that its Board of Directors has declared a quarterly dividend of US$0.40 per common share payable on April 20, 2018 to shareholders of record on March 29, 2018. The dividend represents a 27 percent increase from its legacy companies combined payout level. Nutrien will target a stable and growing dividend that represents 40 to 60 percent of free cash flow after sustaining capital through the cycle. \n\nNutrien's Board of Directors also approved the purchase of up to five percent of Nutrien's outstanding common shares over a one-year period through a normal course issuer bid (NCIB).\n\n\"Today's announcement reflects the confidence in our business to generate strong and growing free cash flow,\" said Nutrien President and Chief Executive Officer Chuck Magro. \"Nutrien is the leading global crop input company, with significant leverage to a recovery in agricultural markets and earnings stability from our integrated platform.  We are committed to returning cash to shareholders, while maintaining the financial strength to deliver on growth opportunities that provide superior long-term returns.\"\n\nNutrien intends to file a business acquisition report on EDGAR and SEDAR on February 26, 2018 in connection with the arrangement involving Agrium Inc. and Potash Corporation of Saskatchewan Inc. Pro-forma unaudited consolidated statement of earnings and balance sheet information will be disclosed in this report. \n\nQuarterly DividendRegistered shareholders who are residents of Canada as reflected in Nutrien's shareholders register, as well as beneficial holders (i.e. shareholders who hold their common shares through a broker or other intermediary) whose intermediary is a participant in CDS Clearing and Depositary Services Inc. or its nominee...