Potash Corp (TSE:POT) slashes profit forecast, dividend

Company says the market has hit bottom

Potash Corp. of Saskatchewan Inc. (TSE:POT) cut its dividend and its earnings guidance on Thursday as it continues to struggle with weak fertilizer prices.

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Neither move came as a shock to investors given the poor market conditions. However, the cuts were very significant. The Saskatoon-based company reduced its 2016 earnings forecast to between US40 and US55 cents a share, far below the prior level of US60 to US80 cents. The quarterly dividend was cut a whopping 60 per cent, bringing it to US10 cents a share.

Read the full article at: business.financialpost.com