The Mosaic Co., Tampa, said on March 11 its Board of Directors approved an increase to the company’s annual dividend target to $0.30 from $0.20 per share with the next effective declaration, which is expected to be in May 2021.
“This increased commitment to shareholder dividends reflects our successful efforts to transform our cost structures in every area of the company,” said President and CEO Joc O’Rourke. “Our structurally reduced expense base, along with reduced capital spending as we approach the conclusion of our Esterhazy K3 mine project, give us confidence that we can support a higher dividend across the business cycle.”