|Bid||5.68 x N/A|
|Ask||5.68 x N/A|
|Day's Range||5.59 - 5.84|
|52 Week Range||4.50 - 16.43|
|Beta (5Y Monthly)||1.24|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 13, 2020|
|Forward Dividend & Yield||0.04 (0.69%)|
|Ex-Dividend Date||Jun 11, 2020|
|1y Target Est||N/A|
German minerals miner K+S aims to agree a sale of its salt business in the Americas by the end of 2020, Chief Executive Burkhard Lohr said on Wednesday. The world's largest salt producer had said in mid-March that it would sell the business, which accounts for more than one third of group sales, to reduce debt levels that had soared after its investment in a new potash mine in Canada. K+S will only complete the sale and receive payment after 2021, but other measures it has been implementing to reduce debt should strengthen its balance sheet by more than 2 billion euros ($2.3 billion) by that time, Lohr said at the company's annual general meeting.
India on Wednesday cut subsidies for potash-based fertiliser by 9% to the lowest in a decade, as the world's leading importer of the crop nutrient tries to contain a fiscal deficit. The reduction in government support amid a slide in the rupee currency could lead to higher retail prices for farmers and potentially dent consumption and imports. India has fixed the potash subsidy at 10.116 rupees per kg for the 2020-21 fiscal year started on April 1, down from 11.124 rupees the year before, a government statement said.
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K+S is being advised by Deutsche Bank and Royal Bank of Canada (RBC) as the German mineral miner plans to sell its salt business in North and South America, two people familiar with the matter told Reuters on Wednesday. K+S and Deutsche Bank declined to comment while RBC did not immediately respond to a request for comment.
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