Mosaic - Approves $1.5B buyback program (9.4% of market cap); increases dividend 10% to $0.275 from $0.25 (indicated yield 2.4%)
- The new authorization has no set expiration date, but it is expected to be completed over the next two to three year period depending on market conditions. The remaining amount under the Company's current authorization has been cancelled.
- As part of the new authorization, Mosaic intends to execute an accelerated share repurchase (ASR) agreement in the near term for $500 million. The ASR agreement is expected to be completed by the end of September, 2015.
- Dividend will be paid on June 18, 2015, to stockholders of record as of the close of business on June 4, 2015.