Monsanto is accelerating its US$800 million share repurchase programme as part of its commitment to create value for its shareowners.

Monsanto plans to spend the remaining US$276 million to complete the authorisation this fiscal year, more than a full year ahead of its original plan, which was scheduled to end in December 2011. 

"Our company's strong cash flow has enabled us to pull our planned share repurchase forward, and we think the time is right to complete this authorisation," said chief financial officer Carl Casale. "We see strong opportunities ahead for our business and view this as part of our commitment to delivering cash to shareowners - whether through share repurchases or dividends."

Earlier this month, as part of the company's second-quarter earnings announcement, Monsanto executives said the company is positioned for earnings growth in the mid-teen percentages beyond the current fiscal year.  The company also said it is working on a revitalised product strategy that will enable it to deliver more innovative products on farm, which will equip its farmer customers with more choices to benefit from the premium opportunity the company's products create and be more profitable as a result.

As of the end of the second quarter, the current US$800 million share repurchase programme was approximately half completed.

The share repurchase programme was announced in April 2008 and began in December of that year, following the completion of a previous US$800 million share repurchase programme.