Hello everyone I wish I was writing about something positive happening to my portfolio, but today it suffered a small setback. Today Potash Corp announced that they were cutting their dividend by 60% to $0.10 US from $0.25 US.
This is the second dividend cut for Potash Corp in recent months. In a way I am glad they did this because ever since they cut the dividend there was consistent talk that the cut wasn’t deep enough. I believe this move will help free up cash until the fertilizer market improves. This morning when I read the news the first thought was to go sign in to broker account and sell, but after a few minutes I calmed down and realised that I would be overreacting since I am in this for the long haul I am going to keep the stock in my portfolio and monitor the situation.
I currently own 45 shares of Potash Corp and with the dividend cut I will lose $13.50 in passive income for the remained of 2016.
Thanks for reading