PotashCorp Increases Dividend by 33 Percent
Listed: TSX, NYSE
Symbol: POT
SASKATOON, SK, Jan. 30, 2013 /PRNewswire/ – Potash Corporation of Saskatchewan
Inc. (PotashCorp) announced today that its Board of Directors has
approved an increase of the company’s quarterly cash dividend (from
$0.21 per share to $0.28 per share), and declared a quarterly cash
dividend of US $0.28 per common share payable May 2, 2013 to
shareholders of record on April 11, 2013.
“This change marks the fourth – and more than 700 percent cumulative -
increase in our dividend since the beginning of 2011″ said PotashCorp
President and Chief Executive Officer Bill Doyle. “We are excited by
the potential of our company, particularly as our potash expansion
program nears completion. Our board and management team’s decision to
further enhance our dividend reflects the confidence we have in our
ability to generate strong cash flow in the years ahead.”
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PotashCorp is the world’s largest crop nutrient company and plays an
integral role in global food production. The company produces the three
essential nutrients required to help farmers grow healthier, more
abundant crops. With global population rising and diets improving in
developing countries, these nutrients offer a responsible and practical
solution to meeting the long-term demand for food. PotashCorp is the
largest producer, by capacity, of potash and third largest producer of
nitrogen and phosphate. While agriculture is its primary market, the
company also produces products for animal nutrition and industrial
uses. Common shares of Potash Corporation of Saskatchewan Inc. are
listed on the Toronto Stock Exchange and the New York Stock Exchange.
This release contains forward-looking statements or forward-looking
information (forward-looking statements). These statements can be
identified by expressions of belief, expectation or intention, as well
as those statements that are not historical fact. These statements are
based on certain factors and assumptions including with respect to
foreign exchange rates, expected growth, results of operations,
performance, business prospects and opportunities and effective tax
rates. While the company considers these factors and assumptions to be
reasonable based on information currently available, they may prove to
be incorrect. Several factors could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to: variations from our assumptions with
respect to foreign exchange rates, expected growth, results of
operations, performance, business prospects and opportunities, and
effective tax rates; fluctuations in supply and demand in the
fertilizer, sulfur, transportation and petrochemical markets; costs and
availability of transportation and distribution for our raw materials
and products, including railcars and ocean freight; changes in
competitive pressures, including pricing pressures; adverse or
uncertain economic conditions and changes in credit and financial
markets; the results of sales contract negotiations with major markets;
the European sovereign debt crisis and the recent downgrade of US
sovereign debt and political concern over budgetary matters; timing and
impact of capital expenditures; risks associated with natural gas and
other hedging activities; changes in capital markets and corresponding
effects on the company’s investments; unexpected or adverse weather
conditions; changes in currency and exchange rates; unexpected
geological or environmental conditions, including water inflow;
imprecision in reserve estimates; adverse developments in new and
pending legal proceedings or government investigations; acquisitions we
may undertake; strikes or other forms of work stoppage or slowdowns;
changes in and the effects of, government policies and regulations;
security risks related to our information technology systems and
earnings, exchange rates and the decisions of taxing authorities, all
of which could affect our effective tax rates. Additional risks and
uncertainties can be found in our Form 10-K for the fiscal year ended
December 31, 2011 under the captions “Forward-Looking Statements” and
“Item 1A – Risk Factors” and in our other filings with the US
Securities and Exchange Commission and the Canadian provincial
securities commissions. Forward-looking statements are given only as at
the date of this release and the company disclaims any obligation to
update or revise the forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by law.
SOURCE Potash Corporation of Saskatchewan Inc.
