Attached files
| file | filename |
|---|---|
| 8-K - 8-K - POTASH CORP OF SASKATCHEWAN INC | o67904e8vk.htm |
| EX-99.1 - EX-99.1 - POTASH CORP OF SASKATCHEWAN INC | o67904exv99w1.htm |
Exhibit 99.2
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For Immediate Release |
Symbol: POT | |||
January 26, 2011 |
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Listed: TSX, NYSE |
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PotashCorp Announces Three-for-One Stock Split and Dividend Increase
Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that its Board of Directors
has approved a three-for-one stock split of the company’s outstanding common shares which will be
payable in the form of a stock dividend. Subject to final regulatory approval, all shareholders
will receive two additional shares for each share owned on the record date of February 16, 2011.
Additionally, the Board of Directors approved an increase of the company’s quarterly cash dividend
(from $0.10 per share to $0.21 per share on a pre-split basis), and declared a quarterly cash
dividend of US $0.07 per common share (on a post-split basis) payable May 5, 2011 to shareholders
of record on April 14, 2011.
“Our shareholders have provided the important capital that has helped prepare our company for the
next stage of growth,” said PotashCorp President and Chief Executive Officer Bill Doyle. “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.”
Shareholders who have PotashCorp stock certificates should retain them. The transfer agent, CIBC
Mellon Trust Company, will mail new certificates on February 24, 2011. Upon completion of the
stock dividend, the number of shares outstanding will approximate 853 million. PotashCorp’s common
shares are expected to commence trading on a split basis on February 14, 2011 on the Toronto Stock
Exchange and February 25, 2011 on the New York Stock Exchange. The stock split will have no
unfavorable tax consequences in Canada or the United States.
Potash Corporation of Saskatchewan Inc. is the world’s largest fertilizer enterprise by
capacity producing the three primary plant nutrients and a leading supplier to three distinct
market categories: agriculture, with the largest capacity in the world in potash, third largest in
each of nitrogen and phosphate; animal nutrition, with the world’s largest capacity in phosphate
feed ingredients; and industrial chemicals, as the largest global producer of industrial nitrogen
products and the world’s largest capacity for production of purified industrial phosphoric acid.
PotashCorp’s common shares are listed on the Toronto Stock Exchange and the New York Stock
Exchange.
For further information please contact:
Investors |
Media | |
Denita Stann |
Bill Johnson | |
Vice President, Investor and Public Relations |
Senior Director, Public Affairs | |
Phone: (306) 933-8520 |
Phone: (306) 933-8849 | |
Fax: (306) 933-8844 |
Fax: (306) 933-8844 | |
Email: ir@potashcorp.com |
Email: pr@potashcorp.com |
Web Site: www.potashcorp.com
This release contains forward-looking statements or forward-looking information
(forward-looking statements). These statements are based on certain factors and assumptions
including expectations regarding foreign exchange rates, results of operations, business prospects,
growth, evaluations and opportunities and effective tax rates. While the company considers these
factors and assumptions to be reasonable based on information currently available, they may prove
to be incorrect. Several factors could cause actual results to differ materially from those
expressed in the forward-looking statements, including, but not limited to: fluctuations in supply
and demand in fertilizer, sulfur, transportation and petrochemical markets; changes in competitive
pressures, including pricing pressures; the recent global financial crisis and conditions and
changes in credit markets; the results of sales contract negotiations with major markets; timing
and amount of capital expenditures; risks associated with natural gas and other hedging activities;
changes in capital markets and corresponding effects on the company’s investments; changes in
currency and exchange rates; unexpected geological or environmental conditions, including water
inflow; strikes and other forms of work stoppage or slowdowns; changes in and the effects of,
government policy and regulations; and earnings, exchange rates and the decisions of taxing
authorities, all of which could affect our effective tax rates. Additional risks and uncertainties
can be found in our Form 10-K for the fiscal year ended December 31, 2009 under captions
“Forward-Looking Statements” and “Item 1A — Risk Factors” and in our other filings with the US
Securities and Exchange Commission and Canadian provincial securities commissions. Forward-looking
statements are given only as at the date of this release and the company disclaims any obligation
to update or revise the forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law.
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