UPDATE 1-PotashCorp boosts dividend 50 pct

Thu Sep 13, 2012 1:05pm EDT

* Qtly div now 21 cents; third increase in two years

* Mine expansion projects near completion

Sept 13 (Reuters) - Potash Corp of Saskatchewan , the world's biggest fertilizer maker, said it was raising its quarterly dividend by 50 percent as its mine expansion costs taper off.

Potash Corp officials have hinted for months that they might boost the dividend as projects to increase the capacity or efficiency of mines in the Canadian provinces of Saskatchewan and New Brunswick near completion.

Potash Corp's quarterly dividend will rise to 21 cents per share from 14 cents, payable Nov. 5. The increase is the third in the past two years.

Shares of Potash Corp were up less than 1 percent in New York and Toronto in early-afternoon trading.

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