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Nutrien Announces TSX Approval for Its Renewed Share Repurchase Program

Share:

Nutrien Ltd. (Nutrien) today announced that the Toronto Stock Exchange
(TSX) has accepted Nutrien's notice to commence a normal course issuer
bid (NCIB) to purchase up to five percent of its outstanding common
shares.

Under the NCIB, purchases of common shares may be made through the
facilities of the TSX, the New York Stock Exchange or alternative
Canadian trading systems, or as otherwise permitted by the Canadian
Securities Administrators. The actual number of common shares that may
be purchased under the NCIB and the timing of any such purchases will be
determined by Nutrien. Nutrien believes that purchasing its own common
shares represents an attractive investment opportunity, is in the best
interests of the company and is consistent with Nutrien's objective of
delivering a strong return of capital to its shareholders over time. As
of February 19, 2019, Nutrien had 602,672,627 common shares outstanding
and, therefore, is permitted to repurchase up to 30,133,631 of its
outstanding common shares pursuant to the NCIB. Common shares purchased
under the NCIB will be canceled.

The NCIB will be effected in accordance with the TSX normal course
issuer bid rules and/or Rule 10b-18 under the U.S. Securities Exchange
Act of 1934, which contain restrictions on the number of common shares
that may be purchased on a single day, subject to certain exceptions for
block purchases, based on the average daily trading volumes of Nutrien's
common shares on the applicable exchange. Subject to exceptions for
block purchases, Nutrien will limit daily purchases of common shares on
the TSX in connection with the NCIB to no more than 25 percent (309,233
common shares) of the average daily trading volume of the common shares
on the TSX (1,236,932 common shares) during any trading day. Purchases
under the NCIB will be made through open market purchases at market
price, as well as by other means as may be permitted by applicable
securities regulatory authorities, including private agreements. Any
purchases made by private agreement under an issuer bid exemption order
issued by a securities regulatory authority will be at a discount to the
prevailing market price as provided in any exemption order. Purchases of
common shares may commence on February 27, 2019 and will expire on the
earlier of February 26, 2020, the date on which the company has acquired
the maximum number of common shares allowable or otherwise decides not
to make any further repurchases. Nutrien will enter, prior to commencing
any purchases under the NCIB, into an automatic purchase plan with a
broker which will enable Nutrien to provide standard instructions and
purchase common shares on the open market during self-imposed blackout
periods. Outside of these black-out periods, common shares may be
purchased in accordance with management's discretion.

Nutrien's prior NCIB for the purchase of up to 50,363,686 common shares
expired on February 22, 2019. Nutrien repurchased an aggregate of
42,265,332 common shares at a weighted-average price of US$50.84
per share, excluding brokerage fees, under the prior NCIB. Purchases
were made on the open market.

About Nutrien

Nutrien is the world's largest provider of crop inputs and services,
playing a critical role in helping growers increase food production in a
sustainable manner. We produce and distribute over 26 million tonnes of
potash, nitrogen and phosphate products world-wide. With this capability
and our leading agriculture retail network, we are well positioned to
supply the needs of our customers. We operate with a long-term view and
are committed to working with our stakeholders as we address our
economic, environmental and social priorities. The scale and diversity
of our integrated portfolio provides a stable earnings base, multiple
avenues for growth and the opportunity to return capital to shareholders.

Forward-Looking Statements

Certain statements and other information included in this press
release constitute "forward-looking information" or "forward-looking
statements" (collectively, "forward-looking statements") under
applicable securities laws (such statements are usually accompanied by
words such as "anticipate", "expect", "believe", "may", "will",
"should", "estimate", "intend" or other similar words). All statements
in this press release, other than those relating to historical
information or current conditions, are forward-looking statements,
including, but not limited to the timing, methods and quantity of any
purchases of common shares under the NCIB.

Forward looking statements in this press release are based on certain
key expectations and assumptions made by Nutrien, including expectations
and assumptions concerning: Nutrien's views with respect to its
financial condition and prospects, the stability of general economic and
market conditions, currency exchange rates and interest rates, the
availability of cash for repurchases of common shares under the NCIB,
the existence of alternative uses for Nutrien's cash resources and
compliance with applicable laws and regulations pertaining to the NCIB.
Although Nutrien believes that the expectations and assumptions on which
such forward looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because Nutrien
can give no assurance that they will prove to be correct.

Forward-looking statements are subject to various risks and
uncertainties which could cause actual results and experience to differ
materially from the anticipated results or expectations expressed in
this press release. The key risks and uncertainties include, but are not
limited to: Nutrien's future capital requirements; market and general
economic conditions; demand for Nutrien's products; and unforeseen legal
or regulatory developments and other risk factors detailed from time to
time in Nutrien reports filed with the Canadian securities regulatory
authorities and the United States Securities and Exchange Commission.

Nutrien disclaims any intention or obligation to update or revise any
forward-looking statements in this press release as a result of new
information or future events, except as may be required under applicable
laws.

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