Agrium Inc. Increases Target Dividend Payout Ratio - Quick Facts

(RTTNews) - Agrium Inc. (AGU.TO, AGU) said it has increased its target dividend payout ratio to 40 percent to 50 percent of free cash flow, which is an increase from the previous target of 25 percent to 35 percent of free cash flow.

Agrium also announced the acceptance by the Toronto Stock Exchange of Agrium's Notice of Intention to Make a Normal Course Issuer Bid. Pursuant to the Bid, Agrium proposes to purchase through the facilities of the TSX, the New York Stock Exchange or NYSE and/or alternative Canadian trading platforms, from time to time over the next 12 months, if considered advisable, up to 7,185,866 common shares, being 5% of Agrium's 143,717,326 issued and outstanding shares as of January 19, 2015.

In respect to the Bid, Agrium will be limited to daily purchases of up to 117,313 common shares on the TSX, being 25% of Agrium's average daily TSX trading volume of 469,253 common shares during the six months ended December 31, 2014, subject to certain prescribed exemptions available under applicable Canadian rules.

Agrium said it is authorized to make purchases during the period of January 26, 2015 to January 25, 2016 or until such earlier time as the Bid is completed or terminated at the option of Agrium.