I initiated a new position in Agrium Inc (AGU.TO). Agrium is a $13B company specializing in fertilizers and has a wide variety of products including the three main necessities in crop growth and health - Nitrogen, Phosphate and Potash (termed popularly - NPK). Agrium's main market is industrial and commercial agriculture. The potash subsector has been in hot water lately due to collusion in the industry and price-fixing allegations, and as a result, the current fertilizer prices are subdued.
I initiated with a position in Agrium with 20 shares, and with a yield of 3.22%, adds approximately $64 to my annual dividend income.
Corporate Profile (from Yahoo Finance)
Agrium Inc. produces, retails, and distributes the crop nutrients, crop protection products, seeds, and agronomics primarily in North America, South America, Europe, and Australia. The company operates through two segments, Retail and Wholesale. The Retail segment supplies crop protection products, such as herbicide, fungicide, insecticide, and adjuvant products; crop nutrients, including dry and liquid nitrogen, phosphate, potash, sulfur, and micronutrients; seeds; and merchandise comprising fencing, feed supplements, livestock-related animal health products, irrigation equipment, and other products. It also provides product application, soil and leaf testing, crop scouting, seed treatment, cattle, livestock and wool marketing, insurance, and real estate, as well as offers plant nutrient and precision agriculture software packages. The Wholesale segment produces, markets, and distributes a range of nutrients, including nitrogen-based, potash, and phosphate-based crop nutrient products to agricultural and industrial customers. The company also offers crop-inputs technology and precision agriculture services under the Echelon brand name; and supplies specialty fertilizers. The company was formerly known as Cominco Fertilizers Ltd. and changed its name to Agrium Inc. in 1995. Agrium Inc. was founded in 1931 and is headquartered in Calgary, Canada.