CF Industries' (NYSE:CF) shareholder payout is about to experience a pronounced growth spurt. The company declared a quarterly common stock dividend of $1.00 per share, to be paid on Nov. 29 to shareholders of record as of Nov. 15. That amount is $0.60, or 150%, higher than the firm's previous distribution of $0.40, paid in March.

This is not the company's first big dividend boost. In August 2011, it quadrupled its existing dividend from $0.10 to $0.40 per share. That $0.10, in turn, had increased five-fold in February 2008 from the preceding $0.02.

The new dividend annualizes to $4.00 per share. That yields 1.9% at CF Industries' current stock price of $215.49.

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