PotashCorp (POT) Announces 3-for-1 Stock Split, More Than Doubles Dividend

Late Wednesday, PotashCorp (NYSE: POT) announced a three-for-one stock split. In addition, the board approved an increase of the quarterly cash dividend from $0.10 per share to $0.21 per share on a pre-split basis, or US $0.07 per on a post-split basis. If the stock split plan is approved by regulators, shareholders will receive two additional shares for each share owned on the record date of February 16, 2011. The dividend is payable May 5, 2011 to shareholders of record on April 14, 2011. The ex-dividend date is April 12, 2011. The dividend yield on the new payout is 0.5%. President and Chief Executive Officer Bill Doyle said, "The doubling of our dividend reflects the confidence we have in the long-term drivers of our business and further commitment to using our strong cash flow to create value for our shareholders. Additionally, the increased number of shares resulting from the split should enhance trading liquidity in our stock."... Read more

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