Nutrien’s president and CEO believes better year is ahead in company’s forecast

Nutrien’s president and CEO says 2020 will go down as one of the most challenging years in recent history. But as he looks towards 2021, he says we can see prospects of a much better year both socially and economically.

Having said that, Chuck Magro also notes that the company achieved excellent progress in all of its sectors last year, including potash, nitrogen and phosphates. Nutrien ended 2020 with fourth-quarter net earnings of $316-million.

Its Retail Ag Solutions business had a record fourth quarter. Potash and nitrogen sales volumes were up and production costs were down.

Nutrien has announced an increase in the quarterly dividend to 46 cents a share, with an annualized payout at $1.84 a share.

The fourth-quarter report cites that Nutrien generated $1.8-billion in free cash flow in 2020 and $2.4-billion after accounting for improvements in working capital.


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