Incitec Pivot is embarking on a $1.17 billion capital raising program despite today posting a record $614 million net profit after tax for the full year to September 30.
IPL's profit result marks a whopping increase of $409m or 199pc on the previous year.
"This is an outstanding result based upon a strategy which we are confident will continue to deliver value to our shareholders in the years ahead," IPL managing director and chief executive, Julian Segal, said.
A final dividend of 19.5 cents per share fully franked will take the total dividend per share for the year to 29.7c, an increase of 98pc.
Mr Segal said he expected the company to continue enjoying "earnings momentum", despite the volatile financial environment.
"We expect the strong long-term mining and agricultural industry fundamentals to continue," Mr Segal said.
"For our fertiliser business, world food stocks remain at low levels and this will create demand for agricultural nutrients."
Despite its success, the company is still embarking on a massive capital raising offer, comprising $819m in institutional entitlements and $351m in retail entitlements.
The purpose of the fund raising is to refinance the $2.4b bridging facility IPL entered into in May to pay for the cash component of its acquisition of explosives maker Dyno Nobel.
"Additionally the capital raising secures our strong balance sheet and positions us for future growth in our key fertiliser and industrial explosives markets while maintaining our uncompromising financial discipline and credit metrics which we believe to be consistent with an investment grade credit profile," Mr Segal said.
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