Feb. 22, 2019
Nutrien Ltd. (Nutrien) today announced that its Board of Directors approved the purchase of up to five percent of Nutrien's outstanding common shares over a one-year period through a normal course issuer bid (NCIB). Any purchases will commence following the expiration of our current NCIB on February 22, 2019, and will be subject to acceptance by the Toronto Stock Exchange of our notice to renew our NCIB.
"Nutrien's strong balance sheet and cash flow provide a significant opportunity to enhance shareholder value. We repurchased seven percent of our outstanding shares over the past twelve months and today's announcement reflects our ability to continue to return meaningful cash to shareholders," commented Chuck Magro, Nutrien's President and CEO.
Nutrien is the world's largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute over 26 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.