PLYMOUTH, Minn., March 31, 2015 /PRNewswire/ -- The Mosaic Company
(NYSE: MOS) announced today that its Board of Directors has
approved an increase to the Company's annual dividend to
$1.10 from $1.00 per share effective with the next
declaration, expected to be in May
2015.
"This increased commitment to shareholder dividends demonstrates
our confidence that Mosaic will continue to generate strong cash
flow across business cycles, and fulfills our stated intention to
grow dividends as our business grows," said President and Chief
Executive Officer Jim
Prokopanko.
Since late-2013, when legacy restrictions on share repurchases
expired, and through February 6,
2015, Mosaic has returned $3.7
billion of capital to shareholders through share repurchases
and dividends.
The declaration and payment of any future dividends is subject
to approval by Mosaic's Board of Directors and there is no
assurance that any dividends will be declared in the future.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and
marketers of concentrated phosphate and potash crop nutrients.
Mosaic is a single source provider of phosphate and potash
fertilizers and feed ingredients for the global agriculture
industry. More information on the company is available at
www.mosaicco.com.
This document contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements include, but are not limited to, statements about
the Wa'ad Al Shamal Phosphate Company (also known as the Ma'aden
joint venture), the acquisition and assumption of certain related
liabilities of the Florida
phosphate assets of CF Industries, Inc. ("CF") and Mosaic's ammonia
supply agreements with CF; repurchases of stock; other proposed or
pending future transactions or strategic plans and other statements
about future financial and operating results. Such statements are
based upon the current beliefs and expectations of The Mosaic
Company's management and are subject to significant risks and
uncertainties. These risks and uncertainties include but are not
limited to risks and uncertainties arising from the ability of the
Ma'aden joint venture to obtain additional planned funding in
acceptable amounts and upon acceptable terms, the future success of
current plans for the Ma'aden joint venture and any future changes
in those plans; difficulties with realization of the benefits of
the transactions with CF, including the risk that the cost or
capital savings from the transactions may not be fully realized or
may take longer to realize than expected, or the price of natural
gas or ammonia changes to a level at which the natural gas based
pricing under one of the long term ammonia supply agreements with
CF becomes disadvantageous to Mosaic; customer defaults; the
effects of Mosaic's decisions to exit business operations or
locations; the predictability and volatility of, and customer
expectations about, agriculture, fertilizer, raw material, energy
and transportation markets that are subject to competitive and
other pressures and economic and credit market conditions; the
level of inventories in the distribution channels for crop
nutrients; changes in foreign currency and exchange rates;
international trade risks and other risks associated with Mosaic's
international operations and those of joint ventures in which
Mosaic participates, including the risk that protests against
natural resource companies in Peru
extend to or impact the Miski Mayo mine; changes in government
policy; changes in environmental and other governmental regulation,
including greenhouse gas regulation, implementation of numeric
water quality standards for the discharge of nutrients into
Florida waterways or efforts to
reduce the flow of excess nutrients into the Mississippi River
basin, the Gulf of Mexico or
elsewhere; further developments in judicial or administrative
proceedings, or complaints that Mosaic's operations are adversely
impacting nearby farms, business operations or properties;
difficulties or delays in receiving, increased costs of or
challenges to necessary governmental permits or approvals or
increased financial assurance requirements; resolution of global
tax audit activity; the effectiveness of Mosaic's processes for
managing its strategic priorities; adverse weather conditions
affecting operations in Central
Florida, the Mississippi River basin, the Gulf Coast of
the United States or Canada, and including potential hurricanes,
excess heat, cold, snow, rainfall or drought; actual costs of
various items differing from management's current estimates,
including, among others, asset retirement, environmental
remediation, reclamation or other environmental regulation,
Canadian resources taxes and royalties, the liabilities Mosaic
assumed in the Florida phosphate
assets acquisition, or the costs of the Ma'aden joint venture, its
existing or future funding and Mosaic's commitments in support of
such funding; reduction of Mosaic's available cash and liquidity,
and increased leverage, due to its use of cash and/or available
debt capacity to fund share repurchases, financial assurance
requirements and strategic investments; brine inflows at Mosaic's
Esterhazy, Saskatchewan, potash
mine or other potash shaft mines; other accidents and disruptions
involving Mosaic's operations, including potential mine fires,
floods, explosions, seismic events or releases of hazardous or
volatile chemicals; and risks associated with cyber security,
including reputational loss, as well as other risks and
uncertainties reported from time to time in The Mosaic Company's
reports filed with the Securities and Exchange Commission. Actual
results may differ from those set forth in the forward-looking
statements.
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SOURCE The Mosaic Company