Nov 14 (Reuters) - German potash and salt miner K+S beat third quarter earnings expectations on Tuesday, thanks to a recovery in potash prices in its core market Brazil.

K+S said its earnings before interest, taxes, depreciation and amortization (EBITDA) totalled 72 million euros ($76.82 million) in the July-September period. That was well above forecasts of 52.7 million euros in a poll of analysts compiled by Vara Research.

K+S' third quarter results contrasted with peers such as Norwegian Yara and American Mosaic that missed expectations for July-September due to weak fertilizer prices.

K+S reported third quarter revenue of 881 million euros, slightly above consensus expectations of 867 million euros, according to the Vara Research poll.

The company announced it would amend its dividend policy, now aiming to return 30% to 50% of its adjusted free cash flow generated annually to shareholders.

Previously, K+S' dividend policy consisted of a minimum dividend of 0.15 euro per share plus a discretionary premium.

"Like our North American competitors, we want to orientate ourselves more towards cash flow," Chief Executive Burkhard Lohr said, adding that, should the total distribution volume be sufficient, there will also be a share buyback programme.

"We want to maintain a strong balance sheet and intend to achieve a maximum EBITDA to net debt ratio of 1.5 times," Lohr said. In 2022, the company's net debt to EBITDA ratio stood at 0.3.

K+S also confirmed its 2023 outlook, aiming for an EBITDA of 600 to 800 million euros as well as an adjusted free cash flow within a range of 300 and 450 million euros. ($1 = 0.9372 euros) (Reporting by Tristan Veyet and Antonis Pothitos in Gdansk, Patricia Weiss in Frankfurt; Editing by Susan Fenton)