Agrium shares (T.AGU) lower on profit warning

Canadian Press, The Canadian Press
0 Comments| September 23, 2013

Calgary-based fertilizer producer Agrium Inc. (TSX: T.AGU, Stock Forum) says its third-quarter results will be negatively affected by soft prices and lower sales volumes in its wholesale operations.

It says wholesale earnings before interest and tax will be about $200 million lower than in the same period last year.

Agrium also said in a press release it will increase its dividend by 50 per cent to US$3 a share per year but its shares fell 2.35 to $90.22, leaving the company with a market cap of $13.2 billion, based on 146.8 million shares outstanding.

The 52-week range is $116.38 and $83.46.

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