ST. LOUIS, Jan. 14 /PRNewswire-FirstCall/ -- As the latest step in its ongoing commitment to return value to shareowners, Monsanto Company (NYSE: MON) today announced that its Board of Directors declared a 10 percent increase in the quarterly dividend on its common shares from 24 cents per share to 26.5 cents per share. The dividend is payable on April 24, 2009 to shareowners of record on April 3, 2009.
"As we have often said, when farmers succeed we succeed, and we are pleased to share our company's continued success with our shareowners through the increase of our quarterly dividend," said Terry Crews, Executive Vice President and Chief Financial Officer of Monsanto. "The combination of our company's performance, our financial discipline and the board's ongoing confidence in our business strategy makes this opportunity possible."
The dividend relates to the company's second quarter of its 2009 fiscal year. Since Monsanto was spun off as an independent company in August 2002, its Board of Directors has raised the dividend eight times for a total increase of more than 340 percent.
Crews noted that the dividend is one of the key elements of Monsanto's three-pronged approach to using its strong cash position to benefit shareowners. These include: investing in strategic acquisitions or collaborations, supporting business growth through capital spending, and bolstering direct return to shareowners through increased dividends and share repurchases.
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: http://www.monsanto.com.
|SOURCE Monsanto Company|
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