(Reuters) - Potash Corp of Saskatchewan POT.TO POT.N, the world’s biggest fertilizer maker, said it was raising its quarterly dividend by 50 percent as its mine expansion costs taper off.
Potash Corp officials have hinted for months that they might boost the dividend as projects to increase the capacity or efficiency of mines in the Canadian provinces of Saskatchewan and New Brunswick near completion.
Potash Corp’s quarterly dividend will rise to 21 cents per share from 14 cents, payable November 5. The increase is the third in the past two years.
Shares of Potash Corp were up less than 1 percent in New York and Toronto in early-afternoon trading.
Reporting by Rod Nickel in Winnipeg, Manitoba, and Bangalore equities newsroom; editing by John Wallace