Monsanto Board Approves Quarterly Dividend Increase To 43 cents Per Share
ST. LOUIS, Aug. 6, 2013 /PRNewswire/ -- Monsanto Company (NYSE: MON) today announced that its Board of Directors declared an increase in the dividend on its common stock from 37.5 cents per share to 43 cents per share. The dividend is payable on Oct. 25, 2013 to shareowners of record on Oct. 4, 2013. The dividend relates to the company's fourth quarter of its 2013 fiscal year. Monsanto has increased its dividend four times since the end of fiscal year 2010, for a cumulative increase of more than 60 percent over that time period.
Chief Financial Officer Pierre Courduroux noted that dividends are a key component of Monsanto's approach to using its cash position to return value to company shareowners.
"Monsanto's approach to using its cash position to benefit its shareowners is centered on providing return through dividends and share repurchases, and also using cash for strategic investments," said Courduroux.
In June, Monsanto announced a new three-year share repurchase program for up to $2 billion of the company's common stock, effective July 1, 2013.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter® at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows at www.monsantoblog.com, or subscribe to our News Release RSS Feed.
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits and the previously-announced SEC investigation; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent Form 10-K Report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
Media – Sara Miller (314-694-5824)
SOURCE Monsanto Company