Monsanto Company (MON) recently announced a 25% increase in its
quarterly dividend to 37 cents from the prior payout of 30
cents.
The increased dividend will be paid on October 26, 2012 to
shareholders of record as of October 5, 2012.
Monsanto continues to take steps to return increase shareholder
value through share repurchases and dividends. The company also
announced that it will repurchase shares worth $1 billion over the
next three years.
Missouri-based Monsanto Company, together with its subsidiaries,
is a leading global provider of agricultural products for farmers
in the United States and in the international market.
Earlier, the company offered debt worth $500 million. Management
intends to use the cash proceeds for general corporate purposes and
to refinance an existing $486 million of maturing debt due August
15, 2012.
The company also issued senior unsecured notes worth $500
million in two equal parts. The first lot consists of $250 million
aggregate principal amount of 2.2% senior notes maturing July 15,
2022. Yield to maturity on these notes is 2.213% and have been
offered at 99.884% to the public. Interest will be paid
semi-annually on these beginning January 15, 2013.
The second lot comprises another $250 million aggregate
principal amount of 3.6% senior notes, scheduled to mature on July
15, 2042. These notes will yield 3.608% on maturity and have been
offered at 99.854%. Interest will be paid semi-annually on these
beginning January 15, 2013.
At the end of the third quarter of fiscal 2012, Monsanto had
approximately $1,538 million of long-term debt, net of current
portions and $1,716 million of cash and cash equivalents.
We maintain a Neutral recommendation on Monsanto in the long
run. However, the company holds a Zacks #2 Rank which translates
into a short-term rating of Buy.
Monsanto Company (MON) recently announced a 25% increase in
its quarterly dividend to 37 cents from the prior payout of 30
cents.
The increased dividend will be paid on October 26, 2012 to
shareholders of record as of October 5, 2012.
Monsanto continues to take steps to return increase
shareholder value through share repurchases and dividends. The
company also announced that it will repurchase shares worth $1
billion over the next three years.
Missouri-based Monsanto Company, together with its
subsidiaries, is a leading global provider of agricultural
products for farmers in the United States and in the
international market.
Earlier, the company offered debt worth $500 million.
Management intends to use the cash proceeds for general corporate
purposes and to refinance an existing $486 million of maturing
debt due August 15, 2012.
The company also issued senior unsecured notes worth $500
million in two equal parts. The first lot consists of $250
million aggregate principal amount of 2.2% senior notes maturing
July 15, 2022. Yield to maturity on these notes is 2.213% and
have been offered at 99.884% to the public. Interest will be paid
semi-annually on these beginning January 15, 2013.
The second lot comprises another $250 million aggregate
principal amount of 3.6% senior notes, scheduled to mature on
July 15, 2042. These notes will yield 3.608% on maturity and have
been offered at 99.854%. Interest will be paid semi-annually on
these beginning January 15, 2013.
At the end of the third quarter of fiscal 2012, Monsanto had
approximately $1,538 million of long-term debt, net of current
portions and $1,716 million of cash and cash
equivalents.
We maintain a Neutral recommendation on Monsanto in the long
run. However, the company holds a Zacks #2 Rank which translates
into a short-term rating of Buy.
Monsanto Company
(
MON
) recently announced a 25% increase in its quarterly dividend
to 37.5 cents per share from the prior payout of 30 cents a
share.
The increased dividend will be paid on October 26, 2012 to
shareholders of record as of October 5, 2012.
Monsanto continues to take steps to increase shareholder
value through share repurchases and dividends, thereby making
use of excess cash as well. The company also announced
that it will repurchase shares worth $1 billion over the next
three years.
Earlier, the company offered debt worth $500 million.
Management intends to use the cash proceeds for general
corporate purposes and to refinance an existing debt of $486
million with maturity due on August 15, 2012.
The company also issued senior unsecured notes worth $500
million in two equal parts. The first lot consists of $250
million aggregate principal amount of 2.2% senior notes
maturing July 15, 2022. Yield to maturity on these notes is
2.213% and have been offered at 99.884% to the public. Interest
will be paid semi-annually on these beginning January 15,
2013.
The second lot comprises another $250 million aggregate
principal amount of 3.6% senior notes, scheduled to mature on
July 15, 2042. These notes will yield 3.608% on maturity and
have been offered at 99.854%. Interest will be paid
semi-annually on these beginning January 15, 2013.
At the end of the third quarter of fiscal 2012, Monsanto had
approximately $1,538 million of long-term debt and $1,716
million of cash and cash equivalents.
We maintain a Neutral recommendation on Monsanto in the long
run. However, the company holds a Zacks #2 Rank, which
translates into a short-term rating of Buy.
MONSANTO CO-NEW (MON): Free Stock Analysis
Report
To read this article on Zacks.com click here.
Zacks Investment
Research