Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) announced a quarterly dividend on Friday, September 8th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.10 per share by the fertilizer maker on Wednesday, November 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 28th.
Potash Corporation of Saskatchewan has decreased its dividend by an average of 6.3% annually over the last three years. Potash Corporation of Saskatchewan has a dividend payout ratio of 65.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Potash Corporation of Saskatchewan to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 62.5%.
Shares of Potash Corporation of Saskatchewan (POT) opened at 19.28 on Friday. The firm has a market cap of $16.20 billion, a P/E ratio of 33.94 and a beta of 0.48. Potash Corporation of Saskatchewan has a one year low of $15.72 and a one year high of $20.27. The firm has a 50 day moving average price of $17.71 and a 200-day moving average price of $17.06.
Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last released its earnings results on Thursday, July 27th. The fertilizer maker reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $982.05 million. Potash Corporation of Saskatchewan had a net margin of 11.07% and a return on equity of 5.19%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. Analysts forecast that Potash Corporation of Saskatchewan will post $0.63 earnings per share for the current year.
POT has been the subject of several analyst reports. Scotiabank upgraded shares of Potash Corporation of Saskatchewan from a “sector perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Monday, July 10th. Zacks Investment Research lowered shares of Potash Corporation of Saskatchewan from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada restated a “buy” rating and set a $19.00 price target on shares of Potash Corporation of Saskatchewan in a research report on Friday, July 28th. Cowen and Company set a $16.00 price target on shares of Potash Corporation of Saskatchewan and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, BMO Capital Markets restated a “hold” rating and set a $17.00 price target on shares of Potash Corporation of Saskatchewan in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.25.
About Potash Corporation of Saskatchewan
Potash Corporation of Saskatchewan Inc (PCS) is a fertilizer producer producing a range of primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. As of December 31, 2016, it owned and operated five potash operations in Saskatchewan and owned one in New Brunswick.
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