Agrium (NYSE:AGU) is keeping its shareholder payout level for now. The company has declared its latest common stock dividend, which is to be $0.50 per share paid on October 17 to shareholders of record as of September 30. That amount matches each of the firm's four previous distributions, the most recent of which was handed out last month.

The company is a relative newcomer to quarterly dividend payments. It only started making its distributions on that basis at the beginning of this year. Previously, it paid them semi-annually.

The just-declared dividend annualizes to an even $2.00 per share. That yields 2.3% at Agrium's most recent closing stock price of $87.26.

Fool contributor Eric Volkman has no position in Agrium. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.