Shares are once again down for Potash Corporation of Saskatchewan, as the mining giant announced Thursday that the dividend to shareholders will go down.

Though shares were up five cents from first-quarter earnings of nine cents per share, the 14 cents per share turnout is less than what was projected.

It was stated in a news conference on Thursday that payout to shareholders will be slashed by 60% to 10 cents per share.

Net earnings for PCS came in at $121-million for the quarter, which is down nearly $300-million from one year ago.

Global markets are to blame for the drop in earnings, according to PCS, though they say that things have stabilized in recent weeks.

Projections for the third quarter have been set to cap at ten cents per share, and for the year, the overall outlook is listed between 40 and 55 cents per share.