Dividends

Agrium common shares have historically provided our shareholders of record with a semi-annual dividend of 5.5 cents (U.S.) per share. The semi-annual dividend was increased to 22.5 cents (U.S.) for shareholders of record as of January 1, 2012, and was further increased to 50 cents (U.S.) for shareholders of record as of July 1, 2012. Additionally, on October 22, 2012, Agrium's Board announced its intention to double Agrium's dividend to $2.00 (U.S.) per share on an annualized basis and move to a quarterly payment schedule (50 cents (U.S.) per quarter), starting with the regularly scheduled January 2013 dividend. On September  23, 2013, Agrium's Board announced its intention to increase the dividend by $1.00 (U.S.) to $3.00 (U.S.) per share on an annualized basis, paid in quarterly instalments of 75 cents (U.S.), starting with the regularly scheduled October 2013 dividend. Payment of dividends is dependent upon review and approval by Agrium's Board of Directors on a quarterly basis. See the table below for more detailed and historical information on Agrium's dividend returns and payments.

Notice Regarding Dividend Currency

Updated May 7,  2014

The dividend payable on Agrium's common shares is declared in U.S. dollars. Registered shareholders (i.e. shareholders whose common shares are registered in the holder's name) who are Canadian residents as reflected in Agrium's shareholders register, as well as beneficial holders (i.e. shareholders who hold their common shares through a broker or other intermediary) whose intermediary is a participant in CDS Clearing and Depository Services Inc.or its nominee, CDS & Co., receive their dividends in Canadian dollars. The Canadian dollar  equivalent of the dividend is based on the Bank of Canada noon exchange rate on the record date for the applicable dividend. Registered shareholders resident outside of Canada as reflected in Agrium's shareholders register, including the United States, as well as beneficial holders whose intermediary is a participant in The Depository Trust & Clearing Corporation or its nominee, Cede &  Co., receive their dividends in U.S. dollars.

Registered shareholders may elect to change the currency of dividend payments by contacting Agrium's registrar and transfer agent, CST Trust Company, directly at: CST Trust Company, P.O. Box 1, 320 Bay Street, Toronto, Ontario, Canada M5H 4A6, (1-800-387-0825, inquiries@canstockta.com).  Shareholders who hold their shares through a broker should contact their broker to determine whether they may elect to change the currency of payment and to obtain details with respect to the necessary steps involved in this process.

Notice to Canadian Residents Regarding Tax Eligibility of Agrium Dividends

Updated August 31, 2012

All dividends, or deemed dividends, paid by Agrium Inc. are pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends. An eligible dividend paid to a Canadian resident is entitled to the enhanced  dividend tax credit.