DEERFIELD, Ill. (AP) -- CF Industries Holdings Inc.'s board of directors has approved a 150 percent increase in its dividend, the fertilizer maker said Thursday.
The company will now pay shareholders a quarterly dividend of $1 per share. That's up from 40 cents per share. CF Industries will pay the dividend Nov. 29 to shareholders record as of Nov. 15.
"This dividend increase reflects our confidence in the strength of CF Industries' business model and is part of our ongoing commitment to build long-term shareholder value," said Stephen R. Wilson, the company's chairman and chief executive.
Shares of CF Industries added $3.21 to $212.75 in after-hours trading.