SASKATOON, Jan. 25, 2012 /PRNewswire/ - Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that its Board of Directors has approved an increase of the company's quarterly cash dividend (from $0.07 per share to $0.14 per share), and declared a quarterly cash dividend of US $0.14 per common share payable May 3, 2012 to shareholders of record on April 12, 2012.
"In addition to using our strong cash flow to grow our world-class fertilizer business, we have a proven track record of returning capital to our shareholders," said PotashCorp President and Chief Executive Officer Bill Doyle. "This announcement to double the dividend - the second time in the past year - reflects the confidence we have in the drivers of our business and our commitment to creating superior long-term shareholder value."
Although Potash Corp is not a strong dividend growth stock, it is definitely a growth stock to keep an eye on. The fertilizer products they produce are used by countries around the globe and their dividend is paid out in U.S dollars.