Key Developments: Mosaic Co (MOS)
60.28USD
21 May 2013
$-1.00 (-1.63%)
$60.75
$61.05
$61.65
$60.21
2,436,471
3,060,029
$64.65
$44.43
Latest Key Developments (Source: Significant Developments)
The Mosaic Company To Increase Annual Dividend Program 150%
The Mosaic Company announced that its Board of Directors approved an annual dividend program of $0.50 per share. This program increases the annual targeted dividend 150%, from the current level of $0.20 per share. The new dividend program is planned to go into effect with the next regularly declared dividend, expected to be declared in April 2012. Full Article
The Mosaic Company Announces Settlement Of South Fort Meade Phosphate Mine Litigation
The Mosaic Company announced a settlement agreement with the Sierra Club, Manasota-88, and People for Protecting the Peace River in litigation challenging the company's federal wetlands permit at the South Fort Meade mine. This permit allows mining of the Hardee County Extension near Bowling Green, Florida. The settlement, which is subject to approval by the courts, will resolve the pending appellate and trial court proceedings regarding the permit in their entirety and allow mining at the South Fort Meade mine to proceed. Full Article
The Mosaic Company Announces Quarterly Dividend Of $0.05 Per Share
The Mosaic Company announced that its Board of Directors declared a quarterly dividend of $0.05 per share on the Company's common stock. The dividend will be paid on February 16, 2012, to stockholders of record as of the close of business on February 2, 2012. Full Article
The Mosaic Company Announces Settlement of Potash Tolling Litigation
The Mosaic Company announced that it has reached a settlement with Potash Corporation of Saskatchewan Inc. (PCS) regarding the parties' dispute over the obligations of Mosaic's wholly-owned subsidiary, Mosaic Potash Esterhazy Limited Partnership, to supply potash from its Esterhazy mine to PCS pursuant to a tolling agreement which began in 1978. The parties were scheduled to begin trial before the Queen's Bench Judicial Centre of Saskatoon, Saskatchewan in January 2012. The settlement will resolve the tolling agreement dispute in its entirety, cancel the scheduled trial and dismiss the claim of PCS and the counterclaim of Mosaic. Under the terms of the settlement, Mosaic's obligation to supply up to approximately 1.1 million metric tonnes of potash per year under the tolling agreement will expire December 31, 2012 , at which time the tolling agreement will terminate. Also in connection with the settlement, effective December 31, 2012 Mosaic will receive credit for 1.3 million metric tonnes of capacity at Esterhazy for purposes of calculating its relative share of annual sales of potash to international customers by Canpotex Limited, capacity which is currently allocated to PCS. Full Article
The Mosaic Company To Repurchase Shares
The Mosaic Company announced that it agreed to repurchase 21.3 million shares from the Margaret A. Cargill Trusts for approximately $1.2 billion. The purchase price will be $54.58 per share, the closing price of Mosaic's common stock on November 16, 2011. UBS Investment Bank acted as financial advisor to the Margaret A. Cargill Trusts in connection with the share repurchase. J. P. Morgan Securities, LLC. has been the financial advisor to Mosaic in connection with the split-off and related transactions. Full Article
The Mosaic Company Prices $750 Million Notes Issue
The Mosaic Company announced that it successfully priced two series of notes in the aggregate principal amount of $750 million. One series of notes bears interest at an annual rate of 3.75%, is in a principal amount of $450 million and matures November 15, 2021. The other series of notes bears interest at an annual rate of 4.875%, is in a principal amount of $300 million and matures November 15, 2041. Merrill Lynch, Pierce, Fenner & Smith Incorporated; Barclays Capital Inc.; Morgan Stanley & Co. LLC; U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC acted as book-running managers of the offering. Full Article
The Mosaic Company Announces Quarterly Dividend
The Mosaic Company announced that its Board of Directors declared a quarterly dividend of $0.05 per share on the Company's common stock. The dividend will be paid on November 17, 2011 to stockholders of record as of the close of business on November 3, 2011. Full Article
The Mosaic Company Announces Pricing Of Secondary Offering Of Common Stock
The Mosaic Company announced secondary offering of 18 million shares of its common stock, related to Mosaic's inclusion into the S&P 500 Index, has priced at a public offering price of $57.65 per share. The secondary offering is comprised of 18 million shares owned by the Margaret A. Cargill trusts. In addition, the underwriters have been granted a 30 day option to purchase up to 2.7 million additional shares from the selling stockholders to cover over-allotments, if any. Mosaic will not receive any proceeds from the offering and there will be no change to the number of outstanding shares or earnings per share of Mosaic as a result of the transaction. The offering is expected to close on September 29, 2011 . J.P. Morgan Securities LLC and UBS Securities LLC served as the joint book-running managers for the offering. Full Article
The Mosaic Company Announces Proposed Offering of Common Stock
The Mosaic Company announced that in conjunction with the September 21, 2011 announcement by Standard & Poor's to include The Mosaic Company in the S&P 500 index, the Company intends to effect a registered secondary offering of its common stock by the Margaret A. Cargill Trusts. The Company expects that, subject to market and other conditions, these stockholders will offer approximately 18,000,000 shares of common stock, plus up to an additional 2,700,000 shares subject to the underwriter's overallotment option. This offering is part of the structure that was put in place as part of Mosaic's May 25, 2011 split-off from Cargill and that was designed to facilitate an orderly distribution of Mosaic's common shares formerly held by Cargill . This offering is part of 42 million shares remaining for possible sale by the Margaret A. Cargill Trusts during the 15 month period following the split-off. Mosaic has included additional information about the split-off and orderly distribution of the shares in its annual report on Form 10-K for its fiscal year ended May 31, 2011 . J.P. Morgan Securities LLC and UBS Securities LLC are serving as the joint book-running managers for the offering. Full Article
The Mosaic Company Announces Quarterly Dividend Of $0.05 Per Share
The Mosaic Company announced that its Board of Directors declared a quarterly dividend of $0.05 per share on the Company's common stock. The dividend will be paid on August 18, 2011 to stockholders of record as of the close of business on August 4, 2011. Full Article
UPDATE 1-U.S. corn area to reach 95 mln-96 mln acres -Mosaic
NEW YORK, May 15 - U.S. fertilizer producer Mosaic Co expects U.S. corn plantings to reach 95 million to 96 million acres in 2013, as farmers make up for time lost due to unfavorable spring weather.
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