Nutrien announced its Board of Directors declared an increase to its quarterly dividend to US$0.46 per share, equating to an annualized dividend of US$1.84 per share. The dividend is payable on April 15, 2021, to shareholders of record on March 31, 2021.
The Board also approved the purchase of up to five percent of Nutrien’s outstanding common shares over a one-year period through a normal course issuer bid (NCIB). Any purchases will commence following the expiration of our current NCIB on February 26, 2021, and will be subject to acceptance by the Toronto Stock Exchange.
Registered shareholders who are residents of Canada as reflected in Nutrien’s shareholders’ register, as well as beneficial holders (i.e., shareholders who hold their common shares through a broker or other intermediary) whose intermediary is a participant in CDS Clearing and Depositary Services Inc. or its nominee, CDS & Co., will receive their dividend in Canadian dollars, calculated based on the Bank of Canada daily average exchange rate on March 31, 2021.
Registered shareholders resident outside of Canada as reflected in Nutrien’s shareholders’ register, including the United States, as well as beneficial holders whose intermediary is a participant in The Depository Trust Company or its nominee, Cede & Co., will receive their dividend in US dollars. However, registered shareholders of Nutrien may elect to change the currency of their dividend payments to US dollars or Canadian dollars, as applicable. In addition, Nutrien offers registered shareholders direct deposit by electronic funds transfer for dividend payments.
Registered shareholders may elect to change the currency of their dividend and enroll for direct deposit by contacting, Nutrien’s registrar and transfer agent, Computershare Investor Services Inc., directly. Beneficial shareholders should contact their broker or other intermediaries to determine the ability and necessary steps involved in an election to change the currency of their dividend payment.
All dividends paid by Nutrien are, pursuant to subsection 89(14) of the Income Tax Act (Canada), designated as eligible dividends.