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Terra Industries may pay dividend of $7.50 per share in fourth quarter
By Lisa Kerner
Charlotte, N.C., Sept. 24 - Terra Industries Inc. said it expects to declare and pay a special cash dividend of $7.50 per share in the fourth quarter of 2009, returning a total of about $750 million to shareholders.
According to Terra, the special dividend is subject to the successful completion of a tender offer for its 7% senior notes due 2017 as well as completion of $600 million in debt financing.
Terra is a Sioux City, Iowa, nitrogen products company.
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