Mosaic favors buybacks over dividends, expects $2 bln surplus cash

Mon May 13, 2013 9:00am EDT

May 13 (Reuters) - U.S. fertilizer company Mosaic Co said it favors buybacks over dividends to deploy about $2 billion in surplus cash it expects to have as of May 31.

The company has about $3 billion of debt capacity, Mosaic also said in a filing with the U.S. Securities and Exchange Commission on Monday. ()

Minnesota-based Mosaic, which has a market capitalization of about $26.94 billion, is the world's largest producer of finished phosphate products and North America's second-biggest potash producer.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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