Agrium Inc. (AGU) To Go Ex-Dividend on June 28th

Agrium Inc. (NYSE:AGU) (TSE:AGU) announced a quarterly dividend on Wednesday, May 3rd, Wall Street Journal reports. Investors of record on Friday, June 30th will be given a dividend of 0.875 per share by the basic materials company on Thursday, July 20th. This represents a $3.50 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Wednesday, June 28th.

Agrium has increased its dividend payment by an average of 15.9% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Agrium has a payout ratio of 65.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Agrium to earn $5.94 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 58.9%.

Shares of Agrium (AGU) opened at 92.35 on Friday. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 22.01 and a beta of 0.67. The company’s 50 day moving average price is $92.02 and its 200 day moving average price is $97.60. Agrium has a 52-week low of $87.62 and a 52-week high of $111.88.

Dividend History for Agrium (NYSE:AGU)

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Several analysts recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $100.00 price target on shares of Agrium in a research note on Wednesday, April 5th. Sanford C. Bernstein assumed coverage on Agrium in a research note on Monday, March 6th. They issued an “outperform” rating and a $119.00 price target on the stock. Citigroup Inc. decreased their price target on Agrium from $111.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 11th. Scotiabank reaffirmed a “sector perform” rating and issued a $110.00 price target on shares of Agrium in a research note on Tuesday, May 2nd. Finally, TD Securities set a $99.00 price target on Agrium and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $103.92.

About Agrium

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AGU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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