SASKATOON, Saskatchewan - Nutrien Ltd. (TSX:NYSE:NTR, NYSE:NTR), a major provider of crop inputs and services, has declared a quarterly dividend of $0.54 per share, which is slated for payment on July 19, 2024. Shareholders on record as of June 28, 2024, will be eligible for this dividend.
In an effort to accommodate its diverse shareholder base, Nutrien has detailed payment methods based on the shareholder's location and registration. Canadian residents registered in Nutrien's shareholder register will receive their dividends in Canadian dollars, with the amount determined by the Bank of Canada's daily exchange rate on June 28, 2024. Conversely, registered shareholders from outside Canada, including those in the United States, will receive dividends in U.S. dollars.
Nutrien further provides options for shareholders to change the currency of their dividend payments. Registered shareholders wishing to receive their dividends in a different currency can do so by contacting Computershare Investor Services Inc. Additionally, Nutrien has made provisions for direct deposit of dividends via electronic funds transfer for registered shareholders.
Shareholders who hold their shares through intermediaries, such as brokers, are advised to reach out to their respective intermediaries for instructions on how to change the currency of their dividend payments if they wish to do so.
Nutrien emphasizes that all dividends paid are designated as eligible dividends under subsection 89(14) of the Income Tax Act in Canada, which may have tax implications for the recipients.
InvestingPro Insights
Nutrien Ltd. (TSX:NTR, NYSE:NTR), while ensuring consistent returns to shareholders through dividends, also presents a mix of financial fundamentals that may interest investors. According to the latest data from InvestingPro, Nutrien's market capitalization stands at $27.41 billion. The company has shown a commitment to returning value to its shareholders, as evidenced by the dividend yield of 3.9%, which is notably high in the current market environment. Additionally, Nutrien has raised its dividend for 6 consecutive years, reflecting a strong track record of shareholder remuneration.
The company's P/E ratio, based on the last twelve months as of Q4 2023, is 14.84, which suggests that the stock is trading at a lower multiple of its earnings compared to the industry average, potentially indicating an undervalued stock. This is further supported by a strong free cash flow yield, as highlighted by one of the InvestingPro Tips, indicating that the company is generating sufficient cash to support its operations and dividend payments.
Investors should also note that the company has experienced a sales decline of 24.13% over the last twelve months as of Q4 2023. This metric, coupled with the fact that 6 analysts have revised their earnings downwards for the upcoming period, suggests that there may be challenges ahead that could impact future performance. However, it is also important to consider that Nutrien is a prominent player in the Chemicals industry, and such fluctuations can be part of the industry's cyclical nature.
For those interested in a deeper analysis, InvestingPro offers additional InvestingPro Tips for Nutrien, which can be accessed at https://www.investing.com/pro/NTR. Furthermore, using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of financial data and insights to inform their investment decisions.
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