The board of directors has approved a quadrupling of Agrium's cash dividend on common stock.
Agrium announced that the board of directors has approved a quadrupling of Agrium's cash dividend on common stock to $0.225 per share on a semi-annual basis, up from the previous semi-annual dividend of $0.055 per share. The $0.225 per share dividend will be paid January 19, 2012 to shareholders of record on January 1, 2012.
"The increase in our dividend is a result of the continued growth in stable earnings from our Retail business and the strength in our Wholesale earnings profile and outlook. Agrium is committed to continuing to deliver value-added growth across the value chain and we are confident we can achieve our future growth objectives while at the same time providing a higher dividend to shareholders." said Agrium's President and CEO, Mike Wilson.