St. Louis, Missouri
June 18, 2008
Monsanto Company (NYSE:MON) today announced that its Board
of Directors declared an increase in the quarterly dividend on
its common shares from 17.5 cents per share to 24 cents per
share, or an increase of 37 percent. The dividend is payable on
July 25, 2008, to shareowners of record on July 3, 2008.
"The increase in our quarterly dividend reinforces our continued
commitment to return value to our shareowners," said Terry
Crews, Executive Vice President and Chief Financial Officer of
Monsanto. "This increase further demonstrates the board's
confidence in Monsanto's strategy and our financial discipline."
The dividend relates to the company's third quarter of its 2008
fiscal year. Since Monsanto was spun off as an independent
company in August 2002, its Board of Directors has raised the
dividend seven times, an increase of 300 percent.
Crews noted that the dividend increase 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 capital or acquisitions to support business growth,
to use dividends or share repurchase programs to return value to
shareowners.
In other matters, Monsanto's Board of Directors also amended the
advance notice provisions of the company's bylaws. The amendment
expands the disclosure requirements for shareowners who seek to
nominate directors or bring other business at the company's
annual meeting of shareowners other than proposals under Rule
14a-8 of the federal securities laws.
Monsanto Company is a leading global provider of
technology-based solutions and agricultural products that
improve farm productivity and food quality. |
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