In today’s market, it’s easy to get distracted by the latest tech trend or speculative play. But sometimes the most compelling opportunities are those tied to basic human needs. Food is one of them. That’s why Nutrien (TSX:NTR) might just be one magnificent Canadian stock to buy and hold forever. It’s down significantly from its highs, and while it has faced short-term pressure, the long-term story is far from over.
About Nutrien
Nutrien is the largest crop nutrient producer in the world. It sells potash, nitrogen, and phosphate products to farmers across the globe. It also operates one of the largest agriculture retail networks. That means it sells not only fertilizer but also seeds, crop protection, and other inputs to growers in North America, South America, and Australia. In short, Nutrien is a critical part of the global food supply chain.
The dividend stock has had a rough ride. From highs above $140 in early 2022, it’s now trading closer to $82 as of writing. That’s a decline of over 40%, even though demand for food and fertilizer hasn’t gone anywhere. In fact, it’s growing. So what’s going on?
Into earnings
Nutrien’s recent earnings give some clues. In the first quarter of 2025, the dividend stock reported revenue of $5.1 billion, down 5% from the same quarter a year earlier. Net income was just $19 million, compared to $165 million last year. The drop was mainly due to weaker prices for potash and nitrogen. Weather delays in key growing regions also hurt its retail business.
That sounds rough, but there’s more to the story. The dividend stock still generated about $852 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). It’s also working on cutting costs and streamlining operations, with a target of about $200 million in savings this year. Nutrien is sitting on roughly $895 million in cash and continues to buy back shares and pay dividends.
Delicious dividend
Speaking of dividends, Nutrien is currently yielding about 3.7%. That’s a solid income stream while you wait for the dividend stock to recover. The company has raised its dividend in recent years, showing commitment to returning capital to shareholders. While some commodity stocks cut payouts when times get tough, Nutrien has shown more resilience. And right now, a $20,000 investment could bring in $739.32 in dividends alone!
| COMPANY | RECENT PRICE | NUMBER OF SHARES | DIVIDEND (annual) | TOTAL PAYOUT | FREQUENCY | TOTAL INVESTMENT |
|---|---|---|---|---|---|---|
| NTR | $81.86 | 244 | $3.03 | $739.32 | Quarterly | $19,975.84 |
More to come
The long-term picture is also worth considering. The global population is growing, and food demand is rising. Grain stockpiles are tight, and farmers need to grow more with less land. That means fertilizer is a non-negotiable part of the equation. Even if prices fluctuate in the short term, the need for Nutrien’s products isn’t going away.
Year to date, Nutrien is actually up about 30% as of writing. So while it’s well off its peak, it’s been quietly recovering. Investors seem to be warming back up to the idea that this is a core holding, not a flashy one, but a steady one. It also trades at a forward price-to-earnings ratio around 13, which isn’t expensive given its global footprint and strong cash generation.
There are risks, of course. Fertilizer prices are volatile, and geopolitical issues can disrupt supply chains. Natural gas prices affect nitrogen production, and weather always plays a role in agricultural demand. But Nutrien has scale, infrastructure, and a customer base that keeps coming back.
Bottom line
When you add it all up, Nutrien looks like a dividend stock that has simply been knocked down too far. It’s not just a Canadian commodity play; it’s a global agriculture leader. And for those with a long-term view, buying it today could look like a smart move a few years from now.
So if you’re looking for a magnificent Canadian stock that’s down over 40% from its highs, but still critical to how the world eats, Nutrien deserves a spot on your radar. It might not skyrocket overnight, but it could quietly grow your portfolio for decades.
