Agrium Inc (AGU) (AGU.TO) released it quarterly results today and with that announced an increase in its quarterly dividends by 4%. The quarterly dividend rises from US$0.75 to US$0.78. Agrium, even though a Canadian company, pays its dividends in US$ and for holders of the TSX listed stock, the dividend amount is converted on record date. This is the fifth consecutive year of dividend increase from Agrium. The new dividend amount will be paid on Jan 21, 2015 to shareholders of record on December 31, 2014.
Based on today’s closing price, the new dividend amount brings the yield to 3.2%. My portfolio consists of 20 shares of Agrium, which increases my annual dividend amount from US $60 to US $62.40.