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), as of the next scheduled dividend in January, 2013. As of December 14, 2012, the announced quarterly dividend was approved by the Board of Directors.  Payment of dividends is dependant upon review and approval by Agrium's Board of Directors on a quarterly basis. See the table below for more detailed & historical information on Agrium's dividend returns and payments.

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.