Nutrien expands to meet demand

Article Excerpt

NUTRIEN LTD. $112 is a buy. The company (Toronto symbol NTR; Cyclical-Growth Payer Portfolio, Resources sector; Shares outstanding: 551.3 million; Market cap: $61.7 billion; Dividend yield: 2.2%; Dividend Sustainability Rating: Above Average; www.nutrien.com) is the world’s largest producer of agricultural fertilizers. Nutrien last raised your quarterly dividend with the April 2022 payment. Investors now receive $0.48 U.S. a share, up 4.3% from $0.46 U.S. The new annual rate of $1.92 U.S. yields 2.2%. Fertilizer prices have jumped in the past few months due to sanctions on potash exports from Russia and Belarus. As it’s likely prices will remain high, Nutrien now plans to increase its potash production to 18.5 million tonnes by 2025. That’s 5 million tonnes, or 40% higher, than its 2020 output. Nutrien remains a buy. buy…