The Mosaic Company (MOS) to Issue Quarterly Dividend of $0.22 on June 19th

The Mosaic Company (NYSE:MOS) announced a quarterly dividend on Friday, March 21st, Wall Street Journal reports. Stockholders of record on Thursday, June 5th will be given a dividend of 0.22 per share by the basic materials company on Thursday, June 19th. This represents a $0.88 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, June 5th.

Mosaic has increased its dividend by an average of 45.1% annually over the last three years. Mosaic has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Mosaic to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 40.0%.

Mosaic Price Performance

Shares of NYSE MOS opened at $27.83 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.49 and a current ratio of 1.19. The firm’s 50-day simple moving average is $26.54 and its 200 day simple moving average is $26.16. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.42 and a beta of 1.34. Mosaic has a fifty-two week low of $22.48 and a fifty-two week high of $33.44.

Analysts Set New Price Targets

MOS has been the subject of several recent research reports. Oppenheimer upgraded Mosaic from a “market perform” rating to an “outperform” rating and set a $33.00 price target for the company in a report on Thursday. Mizuho reduced their target price on shares of Mosaic from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Morgan Stanley dropped their price target on shares of Mosaic from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group initiated coverage on shares of Mosaic in a research report on Thursday, March 13th. They issued a “buy” rating and a $31.00 price objective for the company. Finally, CIBC initiated coverage on shares of Mosaic in a research report on Tuesday, December 10th. They set a “neutral” rating and a $55.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Mosaic has an average rating of “Hold” and a consensus price target of $32.67.

Mosaic Company Profile

The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name.