For the second straight year, PotashCorp has received the Canadian Institute of Chartered Accountants (CICA) Overall Award of Excellence for Corporate Reporting. The honor is one of five earned by the company from the CICA this year, matching last year’s total.
Potash Corporation of Saskatchewan Inc. announced today that its Board of Directors has declared a quarterly dividend of US $0.15 per share payable February 13, 2006 to shareholders of record January 23, 2006.
SASKATOON, SK (Canada NewsWire via COMTEX News Network) – The continuing growth in prices for potash, phosphate and nitrogen contributed to PotashCorp's third-quarter earnings of $1.17 per diluted share, the second-highest quarter in company history. This is 72 percent more than the $0.68 earned in last year's third quarter and trails only the record $1.46 per share earned in the second quarter of 2005. A stronger-than-expected Canadian dollar at quarter-end negatively impacted earnings by $0.15 per share relative to our second-quarter end, and impacted earnings by $0.09 per share relative to our July guidance. The majority of this exchange rate differential is non-cash. The quarterly results were also reduced by a year-over-year decrease in potash sales volumes to Brazil and some impact from hurricanes in the US Gulf region. Total income for the quarter was $130.3 million, a 73-percent increase from the $75.2 million earned in the third quarter of 2004. Year-to-date net income rose to $425.8 million ($3.79 per share) versus year-to-date income of $198.5 million, or $1.82 per share, in 2004.
SASKATOON, SK, Sept. 22 PRNewswire-FirstCall – Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that its Board of Directors has approved, subject to regulatory approval, an increase in the number of common shares sought under the company's current open market repurchase program. This amendment will allow PotashCorp to repurchase up to 4.0 million additional common shares, raising the ceiling from the initial maximum of 5.5 million, or 5 percent of the total number of outstanding common shares, announced in January 2005. The open market repurchase program, as amended, will terminate with the completion of the purchases, or no later than February 14, 2006. The share buyback will involve the purchase of common shares at the prevailing market price from time to time. All common shares purchased under the program will be cancelled.
SASKATOON, SK, Sep. 15, 2005 (Canada NewsWire via COMTEX News Network) – Potash Corporation of Saskatchewan Inc. announced today that its Board of Directors has declared a quarterly dividend of US $0.15 per share payable November 14, 2005 to shareholders of record October 24, 2005.
SASKATOON, SK /PRNewswire/ – Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that higher second-quarter prices for potash, phosphate and nitrogen products resulted in quarterly records for both net income and gross margin. This is the third consecutive quarter for record net income and the fourth consecutive quarter for record gross margin. Net income of $164.2 million ($1.46 per diluted share) was up from $72.6 million ($0.67 per diluted share) in second quarter 2004, raising 2005 first-half income to $295.5 million from $123.3 million in last year's same period. Second-quarter net income would have been $0.13 per diluted share higher, except for a non- cash accelerated expensing of stock options granted during the quarter. Gross margin of $344.8 million more than doubled the $170.7 million in the same quarter last year, with second-quarter potash gross margin of $223.3 million alone exceeding second-quarter 2004 gross margin performance for the entire company. Cash flow from operating activities rose to $348.4 million from $182.8 million quarter over quarter. Equity investments in Arab Potash Company (APC) and Sociedad Quimica y Minera (SQM) combined to provide $13.4 million to second-quarter income.
SASKATOON, SK PRNewswire-FirstCall – Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that it is increasing its second quarter earnings guidance, and now expects net income for the quarter to be between $1.40 and $1.50 per diluted share, up from the $1.00 to $1.25 guidance initially provided. An excellent spring season and better than expected market fundamentals have led to higher prices in all three nutrients, and will translate into stronger quarterly financial performance. Where the company falls in the range is expected to depend on where the exchange rate finishes the quarter, with a weaker Canadian dollar putting it in the top of the range.
SASKATOON, SK PRNewswire-FirstCall – Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that it has reached agreement with a subsidiary of Sinochem Corporation (Sinochem) to purchase a 9.99 percent interest in Sinochem's fertilizer business (Sinofert). Sinochem had previously announced in January 2005 that it would reorganize and place its fertilizer business, with certain exceptions, into a publicly traded company which is currently listed on the Hong Kong Stock Exchange.