Mosaic Boosts Dividend Payout By 150 Percent
Mosaic announced today that the company will boost their dividend payout by 150 percent to $.50 per share.
Following the dividend increase, Mosaic stock will offer investors a current dividend yield of approximately 0.9 percent.
Mosaic’s President and Chief Executive Officer Jim Prokopanko commented in a statement, “In addition to using our strong cash flow to grow our world-class fertilizer business, we have a proven track record of returning capital to our shareholders. This announcement to more than double the dividend reflects the confidence we have in the drivers of our business and our commitment to creating superior long-term shareholder value.”
The new dividend plan is expected to go into effect in April 2012.