Nutrien (TSX: NTR) reported second-quarter 2026 adjusted EBITDA of $2.4 billion, with first-half adjusted EBITDA rising 6% year-over-year to $3.5 billion. The fertilizer producer raised its full-year potash sales volume guidance and accelerated share repurchases to approximately $75 million per month in the third quarter.

Financial Performance

Cash provided by operating activities increased 12% in the first half of 2026, supporting the company’s capital allocation priorities. Management reduced capital expenditures guidance by $50 million to a range of $1.95 billion to $2.05 billion for the full year.

The potash segment benefited from higher global benchmarks and strong operational execution, maintaining controllable cash costs flat compared to the prior year. The nitrogen segment saw lower sales volumes due to planned maintenance at the Carsland facility and deferred customer purchases, though net selling prices aligned with higher global benchmarks. Phosphate adjusted EBITDA declined in the quarter due to elevated sulfur costs.

Strategic Updates

Nutrien generated approximately $1 billion in gross proceeds from asset divestitures since the fourth quarter of 2024, enhancing portfolio quality. The company is reviewing strategic alternatives for its phosphate business and has received numerous non-binding bids. Additionally, management is evaluating options for its Trinidad nitrogen operations and components of the Brazilian retail business.

What the Numbers Show

The retail segment demonstrates a clear shift in revenue drivers. While domestic commodity fertilizer volumes declined in the second quarter—phosphate down 10% and nitrogen down 7%—proprietary crop nutrients gross margin increased 10% in the first half. This divergence indicates that growth in high-margin proprietary products is offsetting volume weakness in traditional commodity fertilizers, supporting the maintenance of full-year retail adjusted EBITDA guidance at $1.75 billion to $1.95 billion.

Outlook

Global potash shipments are forecast at 74 million to 77 million tons for 2026. Nutrien raised the bottom end of its own potash sales volume guidance to 14.2 million to 14.8 million tons, citing healthy demand across major markets and favorable affordability. The company plans to host an Investor Day on November 30 to outline future growth opportunities.

Nutrien Ltd. (TSX and NYSE: NTR) has declared a quarterly dividend of US$0.55 per share, reinforcing its commitment to returning capital to investors. The Board of Directors approved the payment, which will be distributed on October 16, 2026, to shareholders who held common shares on the record date of September 29, 2026. This declaration provides clarity on cash returns for the quarter, allowing investors to plan accordingly regarding currency exposure and payment timing.

The dividend distribution mechanism varies by shareholder residency and holding structure. Registered shareholders resident in Canada, as reflected in Nutrien’s register, along with beneficial holders whose intermediaries participate in CDS Clearing and Depositary Services Inc. or its nominee CDS & Co., will receive payments in Canadian dollars. The conversion rate is determined by the Bank of Canada daily average exchange rate on September 29, 2026. Conversely, registered shareholders outside Canada, including those in the United States, and beneficial holders using The Depository Trust Company or its nominee Cede & Co., will receive dividends in US dollars.

Registered shareholders have the flexibility to elect a different currency for their dividend payments, choosing between US dollars or Canadian dollars as applicable. Nutrien also offers direct deposit via electronic funds transfer for registered shareholders seeking automated payment processing. These elections can be made by contacting Computershare Investor Services Inc., Nutrien’s registrar and transfer agent, at 1-800-564-6253 or service@computershare.com .

Beneficial shareholders, who hold shares through brokers or other intermediaries, must contact their respective intermediaries to determine eligibility and procedures for changing the currency of their dividend payments. This distinction ensures that while registered holders manage their preferences directly with the transfer agent, beneficial holders rely on their custodians to facilitate such requests.

Under subsection 89(14) of the Income Tax Act (Canada), all dividends paid by Nutrien are designated as eligible dividends. This classification may offer tax advantages to Canadian residents, aligning the payout with favorable tax treatments for qualified income. Investors are advised to consult their tax advisors regarding the specific implications of this designation on their individual tax positions.

For further details on historical dividend information and investor resources, Nutrien directs stakeholders to www.nutrien.com/investors/nutrien-historical-dividend . The company continues to prioritize investments that strengthen its position across the agricultural value chain, supporting long-term value creation for growers and shareholders alike.