BUZZ-Potash Corp falls after weak forecast, dividend cut

Thu Jul 28, 2016 11:12am EDT
 
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** U.S.-listed shares of world's biggest fertilizer company by capacity down 5 pct at $16.27

** Toronto-listed shares down as much as 6.2 pct, biggest intraday percentage fall in a month

** Company cuts full-year profit forecast and dividend for 2nd time this year and says potash markets have reached low point

** Potash plans to cut quarterly dividend to 10 cents per share from 25 cents; slashes full-year profit forecast to 40-55 cents per share from 60-80 cents

** Q2 profit plunges 70.9 pct and sales miss analysts' estimates

** Up to Wednesday's close, U.S.-listed stock had fallen 40 pct in past 12 months