Israel Chemicals (ICL) stood out among the large fertilizer producers with very solid Q1 results, and a dividend hike resulting in a 4% annualized yield at the current share price ($5.41 on the NYSE).
The Israeli company is not just an income play, though. Its end markets are growing, and it benefits from cost-advantaged assets and a dynamic Israeli agri-tech ecosystem. Valuation is reasonable, making Israel Chemicals a solid candidate for investors looking for international diversification.
Solid Q1 results
Q1 earnings were strong across the board, despite disruptions in the Israeli Railway