The Global Resource For Connecting Buyers and Sellers

PotashCorp cuts dividend by 34% after lower-than-expected quarterly profit

TSX- and NYSE-listed potash and fertiliser producer PotashCorp, of Saskatchewan, has decided to cut its quarterly dividend by 34%, owing to the challenging market conditions and emerging market currency weakness relative to the US dollar that continue to weigh on the fertiliser market. The company’s full-year 2015 report, published on Thursday, reported full-year earnings of R$1.52 a share, or $1.3-billion, trailing the 2014 full-year earnings of $1.82 a share, or $1.5-billion.