Monsanto Company (NYSE: MON) announced today that its Board of Directors declared a quarterly dividend on its common stock of 37.5 cents per share, representing an increase of 25 percent. The dividend relates to the company's fourth quarter of its 2012 fiscal year and is payable on October 26, 2012 to shareowners of record on October 5, 2012.
"Our strong cash flow position gives us the opportunity to prioritize the value we can return to shareowners," said Pierre Courduroux, senior vice president and chief financial officer for Monsanto. "The increase in our quarterly dividend underscores this commitment to the shareowners of our company and supports our objective of maximizing shareowner value."
Courduroux noted that Monsanto's approach to using its cash position to benefit its owners revolves around providing direct return through dividends and share repurchases, as well as using cash for strategic acquisitions and capital spending. As part of its overall cash deployment approach, in June, Monsanto announced a new three-year share repurchase program, effective July 1, 2012, for up to $1 billion of the company's common stock.
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