Monsanto Approves Quarterly Dividend

Monsanto (MON: 57.84 -0.12%) announced today that their Board of Directors has approved a quarterly dividend payment of $.265 per share.

 

Monsanto’s current dividend yield now stands at 1.2%.

 

The dividend will be payable on July 24, 2009 to shareholders of record as of July 2, 2009.

 

“Our business is built around one simple philosophy, discovering and delivering key agricultural innovations for the hard-working farmers who feed, fuel and clothe our growing world,” said Terry Crews, Executive Vice President and Chief Financial Officer of Monsanto. “The combination of farmers’ investment in our business, our performance, our financial discipline and the board’s ongoing confidence in our business strategy makes this opportunity possible.”

 

The markets responded positively to news of the dividend announcement, sending MON’s shares up 2.8% to $85.07. Since the beginning of 2009, Monsanto’s stock has gained 21%.

 

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