PotashCorp (NYSE:POT) has elected to stick to its existing dividend policy. Today, the company declared its latest distribution, which is to be $0.35 per share paid on November 5 to shareholders of record as of October 15. That amount matches its previous disbursement, which was paid at the beginning of last month. Prior to that, PotashCorp handed out $0.28 per share.
The company's payout has risen sharply in recent years, climbing from $0.07 in May 2011 to the present level. Before that former date, however, it had handed out $0.10 per share in every preceding quarter since August 2007.
The just-declared dividend annualizes to $1.40 per share. That yields 4.4% at PotashCorp's current stock price of $31.78.
Fool contributor Eric Volkman has no position in PotashCorp, and neither 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.