CF Industries

CF Industries is one of the world's largest producers of nitrogen fertilizer, running low-cost plants that benefit from access to cheap North American natural gas, the main input for ammonia. It supplies farmers and industrial customers globally and is increasingly positioning itself in clean ammonia as a potential low-carbon fuel and hydrogen carrier. CF Industries has paid dividends for more than three decades, and strong cash flow through commodity cycles has allowed it to combine a growing payout with substantial share buybacks. The yield is modest, but the strong score reflects a well-covered, dependable dividend from a cost-advantaged producer, tempered by the inherent swings of fertilizer and gas prices.