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Potash Corp. says dividend cut allows pursuit of deals, buybacks

Jan. 28, 2016 5:31 PM ETNutrien Ltd. (NTR) Stock, NTR:CA StockSQM, KPLUY, ICL, NTRBy: Carl Surran, SA News Editor13 Comments
  • Potash Corp.’s (POT) decision to cut its dividend for the first time gives the company more flexibility to pursue acquisitions and other options including share buybacks, CEO Jochen Tilk said in today's earnings conference call.
  • One of the opportunities also could include adding a new project that would generate a “great return," Tilk said, adding that POT continues to evaluate its minority stakes in rival producers including Israel Chemicals (NYSE:ICL) and SQM but has ended its pursuit of K+S (OTCQX:KPLUY).
  • "The real story is how poor 2016 guidance is due to weak potash fundamentals and a 34% dividend cut may not be deep enough," BMO analyst Joel Jackson says.

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