CF Industries Hikes Dividend 150% (CF)

CF Industries (CF) announced on Thursday that it has raised its quarterly dividend by 150%.

Two months after activist investor Dan Loeb’s Third Point LLC hedge fund demanded the fertilizer company raise its dividend payout, CF Industries announced that it will raise its quarterly dividend from $0.40 to $1.00 per shares, or an increase from an annualized payout of $1.60 to $4.00.

The dividend will be payable on November 29,2013 to shareholders of record on November 15, 2013 with an ex-dividend date of November 13, 2013.

Commenting on the dividend hike, CEO Stephen R. Wilson noted “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.”

CF Industries shares traded 0.29% higher during Thursday’s session. Year-to-date, the stock is up a mere 0.82%.