|Agrium Inc ( AGU )|
|Written by Editor|
|Thursday, 07 June 2012 09:24|
Agrium Announces Dividend to More Than Double
ALL AMOUNTS ARE STATED IN U.S.$ UNLESS OTHERWISE INDICATED
Agrium Inc. (TSX:AGU) (NYSE:AGU) announced today that the Board of Directors has approved a $0.275 per share increase to the semi-annual dividend declared on May 11, 2012. The semi-annual dividend will be $0.50 per share and will be paid July 12, 2012 to shareholders of record on July 1, 2012.
"The further increase in our dividend is an indication of the strength in our earnings outlook across both our Retail and Wholesale operations and how our growth strategy has continued to deliver results for the benefit of shareholders.
Agrium is committed to continuing to deliver value-added growth across the value chain and remains confident we can achieve our future growth objectives while also providing the opportunity for increases in return of capital to shareholders," said Agrium's President and CEO, Mike Wilson.
All dividends paid by Agrium Inc. are, pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends. An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.
Agrium Inc. is a major Retail supplier of agricultural products and services in North America, South America and Australia and a leading global Wholesale producer and marketer of all three major agricultural nutrients and the premier supplier of specialty fertilizers in North America through our Advanced Technologies business unit. Agrium's strategy is to grow across the value chain through acquisition, incremental expansion of its existing operations and through the development, commercialization and marketing of new products and international opportunities.
Certain statements and other information included in this press release constitute "forward-looking information" within the meaning of applicable Canadian securities legislation or constitute "forward-looking statements" within the meaning of applicable U.S. securities legislation (together, "forward-looking statements"). All statements in this press release, other than those relating to historical information or current conditions, are forward-looking statements, including, but not limited to, statements as to management's expectations with respect to, among other things, future crop and crop input volumes, demand, margins, prices and sales; business and financial prospects; and other plans, strategies, objectives and expectations, including with respect to future operations of Agrium. Such forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control, as well as various assumptions and business sensitivities, including those risk factors referred to in the MD&A section of the Corporation's most recent Annual Report to Shareholders as well as those risk factors described in the Corporation's most recent Annual Information Form, which may cause actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Agrium disclaims any intention or obligation to update or revise any forward-looking statements in this press release as a result of new information or future events, except as may be required under applicable Canadian securities legislation or applicable U.S. federal securities law.