Our goal: To become the best destination for shareholder value in our industry.
We understand that recognition as the best crop nutrition company in the world and recognition from investors go hand in hand.
We strive to create shareholder value by growing our potash and phosphates businesses, by operating efficiently and with excellence, and by sustaining a strong financial foundation. In 2012, we made great progress in our work to improve our operational excellence, continued our potash expansion programs and returned 65 percent of our net income to shareholders through dividends and share repurchases.
Our 5 year total shareholder return reflects several key considerations, including the impacts of the split-off from Cargill and the resulting secondary equity offering; as well as a permitting issue at our South Fort Meade facility, an issue which has subsequently been resolved. While we haven't achieved our goal thus far, we believe we are well positioned and remain committed to generating total shareholder returns in the top three of our peers. We did meet our goal to improve our costs relative to others in both potash and phosphates.