The need for food fuels this dividend

Article Excerpt

The world’s population will probably expand from 7.6 billion people in 2021 to around 10 billion in 2050. That increases the need for more and better food, which will drive demand for Nutrien’s fertilizers. What’s more, the company has already raised its dividend four times since it was formed in early 2018 with the merger of Agrium and Potash Corp. We expect Nutrien will continue to reward investors as its revenue improves and it realizes more savings from the merger. NUTRIEN LTD. $75 is a buy. The company (Toronto symbol NTR; Cyclical-Growth Payer Portfolio, Resources sector; Shares outstanding: 570.2 million; Market cap: $42.8 billion; Dividend yield: 3.0%; Dividend Sustainability Rating: Average; www.nutrien.com) is the world’s largest producer of agricultural fertilizers; it ships about 27 million tonnes annually. Nutrien also sells seeds, fertilizers and agricultural products to farmers through its more than 2,000 stores spread across North America, South America and Australia. The company took its current form on January 1, 2018, through the…