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Nutrien Shares Rise On Outlook Better Than Estimates, Increased Dividend

Shares of Canadian fertilizer maker Nutrien Ltd. (NTR) are rising 3 percent on Thursday's trading. On Wednesday, the company said that an increase in prices of potash due to high global demand and thin supply would benefit its earnings in fiscal 2022. The company expects fiscal 2022 adjusted profit between $10.20 and $11.80 per share while 19 analysts polled by Thomson Reuters predict earnings of $9.7 per share for the year ahead.

Nutrien also raised its quarterly dividend to $0.48 per share, up 4 percent from last year.

Recently, the company announced a profit for its fourth quarter that increased from the same period a year ago.

The company's bottom line came in at $1.21 billion, or $2.11 per share. This compares with $0.32 billion, or $0.55 per share, in last year's fourth quarter. Excluding items, Nutrien reported adjusted earnings of $1.41 billion or $2.47 per share for the period.

The company's revenue for the quarter rose 79.5 percent to $7.27 billion from $4.05 billion last year.

Currently at $76.74, the stock has traded between $52.28 and $78.76 during the past 52 weeks.

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