Viterra (ASX: VTA) has declared a cash dividend of C$0.075 (A$0.072) for shareholders of both the company’s common shares listed on the TSX and CHESS Depositary Interests listed on the ASX.
The dividend will be paid on 26 July 2012 to registered shareholders as at the record date of 6 July 2012.
Strong earnings
Last month Viterra posted record earnings before interest, taxes, depreciation and amortisation (EBITDA) of A$185 million for the second quarter of fiscal 2012.
The record marks a 43% increase over the $129 million EBITDA posted in the second quarter of fiscal 2011.
Net earnings for the company have more than doubled to $67 million ($0.18 per share) compared to the $30 million ($0.08 per share) reported in the same three month period in the last financial year.
The outlook remains strong for Viterra’s operations with solid agri-commodity pricing in North America expected to lead to a continued draw down of on-farm stocks, and ongoing solid demand from key export markets.
Fundamentals for the Agri-Products segment are also expected to remain strong in the second half of fiscal 2012 due to relatively strong commodity prices that should continue to drive solid returns for producers and their demand for crop inputs.
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