March 18, 2008 / 9:24 PM / 10 years ago

Chile's Soquimich to propose dividend to shareholders

SANTIAGO, March 18 (Reuters) - Chile’s Soquimich (SQM), a top fertilizer exporter and the world’s largest producer of lithium and iodine, said on Tuesday it would propose a $0.44459 per share dividend at its next shareholder meeting.

The Santiago-based company SQM_pb.SN (SQM.N) said the proposed dividend would be equal to 65 percent of distributable liquid profit from the 2007 fiscal year.

Soquimich net profit rose 27.4 percent to $180 million last year compared with 2006 amid booming markets for its products.

SQM is controlled by Chile’s Julio Ponce and Norway’s Yara International ASA (YAR.OL), which hold the majority of voting shares, and Canada’s Potash Corp of Saskatchewan Inc POT.TO.

SQM has commercial offices in 20 countries worldwide. (Reporting by Antonio de la Jara; writing by Pav Jordan; editing by Phil Berlowitz)

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