Listed: TSX, NYSE Symbol: POT
SASKATOON, Jan. 28,
2015 /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
$0.35 per share to $0.38 per share), and declared a quarterly cash
dividend of US $0.38 per common share
payable May 4, 2015 to shareholders
of record on April 13, 2015.
"With our potash expansion program nearing
completion, our Board and management team continue to review our
future cash flow potential and the best opportunities to provide
superior returns to our shareholders," said PotashCorp President
and Chief Executive Officer Jochen
Tilk. "This increase reflects the confidence we have in our
business model and the belief that dividends will continue as an
important element of our capital allocation strategy."
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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 often
contain words such as "should," "could," "expect," "may,"
"anticipate," "believe," "intend," "estimates," "plans" and
similar expressions. 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. Forward-looking statements are subject to risks and
uncertainties that are difficult to predict. The results or events
set forth in forward-looking statements may differ materially from
actual results or events. Several factors could cause actual
results or events to differ materially from those expressed in
forward-looking statements including, but not limited to, the
following: 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; changes in
competitive pressures, including pricing pressures; costs and
availability of transportation and distribution of our raw
materials and products, including railcars and ocean freight; risks
and uncertainties related to operating and workforce changes made
in response to our industry and the markets we serve; risks and
uncertainties related to our international operations and assets;
failure to prevent or respond to a major safety incident; adverse
or uncertain economic conditions and changes in credit and
financial markets; the results of sales contract negotiations
within major markets; economic and political uncertainty around the
world; risks associated with natural gas and other hedging
activities; changes in capital markets; unexpected or adverse
weather conditions; catastrophic events or malicious acts,
including terrorism; changes in currency and exchange rates;
imprecision in reserve estimates; adverse developments in new and
pending legal proceedings or government investigations; our
prospects to reinvest capital in strategic opportunities and
acquisitions; our ownership of non-controlling equity investments
in other companies; the impact of further technological innovation;
increases in the price or reduced availability of the raw materials
that we use; security risks related to our information technology
systems; certain complications that may arise in our mining
process, including water inflows; our ability to attract, retain,
develop and engage skilled employees; strikes or other forms of
work stoppage or slowdowns; timing and impact of capital
expenditures; rates of return on, and the risks associated with,
our investments and capital expenditures; changes in, and the
effects of, government policies and regulations; risks related to
reputational loss; and earnings; and the decisions of taxing
authorities, 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,
2013 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.