Potash Corporation of Saskatchewan announced Thursday lower quarterly earnings and a cut to its shareholder dividends for the second time this year.
The Saskatoon based fertilizer producer says its payout to shareholders will be cut to 10 cents U-S per quarter — down from the 25 cents per share they were paid in May and August.
The company’s net earnings fell to 121-million dollars in the second quarter — down from 417-million a year ago.
The Saskatoon-based company is blaming subdued global markets.
Shares of the company dropped five per cent in early morning trading.
-With files from Canadian Press