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.
Fool contributor Eric Volkman has no position in CF Industries. The Motley Fool owns shares of CF Industries. 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.