June 10, 2010

 
Monsanto announces US$1 billion share repurchase programme; declares dividend

Reaffirming its continuing effort to deliver value to shareowners, Monsanto Company announced on June 9 that its Board of Directors has approved a new three-year share repurchase programme and declared a quarterly dividend.

Monsanto's board authorised a new three-year share repurchase programme, effective July 1, 2010, for up to US$1 billion of the company's common stock.

The Board of Directors also declared a quarterly dividend of 26.5 cents per share on its common stock. The dividend relates to the company's third quarter of its 2010 fiscal year and is payable on July 30, 2010 to shareowners of record on July 9, 2010.

Monsanto executives have said the company is positioned for earnings growth in the mid-teen percentages beyond the current fiscal year. The company also has said it is working on a revitalised product strategy to bring more choices to farmer customers, offering them the premium opportunity the company's products create.

Monsanto recently announced it expected to complete its existing US$800 million share repurchase programme by the end of its fiscal year, more than a full year ahead of plan. That programme began in December 2008, following the completion of a previous US$800 million share repurchase programme.

Monsanto will release its third-quarter earnings on June 30.