Tel Aviv-Israel Chemicals Ltd. declared an annual dividend of $373.9 million, its largest in history, and it just happens to be the entire amount of its net income for the year ending Dec. 31, 2006. Ninety million of the amount was paid Sept. 16, 2006, with the remainder, or $283.9 million, to be paid on April 25, 2007. Net income for the year, at $373.9 million, was actually off from 2005’s $422.2 million. Sales for 2006 were up 9 percent, to $3.26 billion from the year-ago $2.99 billion, despite a decline in potash sales due to delayed negotiations with major customers. The Astaris acquisition in late 2005 helped boost 2006 sales. Fourth-quarter net income and sales were above the year-ago period, with net income at $90.2 million on sales of $839.6 million, versus the year-ago $82 million and $775 million, respectively. As a result of the delayed potash negotiations, ICL Fertilizers saw a decrease in operating income to $263.3 million on sales of $1.45 billion for the year, versus the year-ago $348.1 million and $1.57 billion, respectively. The fourth quarter saw a rebound as operating earnings were $102.1 million on sales of $421.9 million, versus the year-ago $71 million and $366.3 million, respectively.
Transparency Across the Fertilizer Value-Chain