Agrium Inc. (AGU) Declares Quarterly Dividend of $0.88
Agrium Inc. (NYSE:AGU) (TSE:AGU) announced a quarterly dividend on Friday, August 11th, Wall Street Journal reports. Investors of record on Friday, September 29th will be paid a dividend of 0.875 per share by the basic materials company on Thursday, October 19th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, September 28th.
Agrium has raised its dividend by an average of 15.9% per year over the last three years and has increased its dividend every year for the last 5 years. Agrium has a dividend payout ratio of 68.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Agrium to earn $5.82 per share next year, which means the company should continue to be able to cover its $3.50 annual dividend with an expected future payout ratio of 60.1%.
Shares of Agrium (NYSE AGU) traded down 0.08% during midday trading on Friday, hitting $98.36. The company had a trading volume of 336,360 shares. The firm has a market capitalization of $13.57 billion, a P/E ratio of 23.73 and a beta of 0.62. The stock has a 50 day moving average price of $96.60 and a 200 day moving average price of $96.13. Agrium has a 1-year low of $87.78 and a 1-year high of $111.88.
AGU has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $116.00 price objective (up from $107.00) on shares of Agrium in a research report on Friday. TD Securities upped their target price on shares of Agrium from $99.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday. Royal Bank Of Canada set a $110.00 target price on shares of Agrium and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company set a $99.00 target price on shares of Agrium and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Scotiabank upgraded shares of Agrium from a “sector perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Agrium currently has an average rating of “Hold” and an average target price of $103.86.
Agrium Company Profile
Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.
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