ST. LOUIS — The board of directors of Monsanto Co. has increased its quarterly dividend on its common stock by 25%, to 37.5c per share. The dividend is payable on Oct. 26 to shareowners of record on Oct. 5.
“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. “The increase in our quarterly dividend underscores this commitment to the shareowners of our company and supports our objective of maximizing shareowner value.”
Mr. Courduroux said 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, for up to $1 billion of the company’s common stock.