The Mosaic Company (NYSE:MOS) Plans Quarterly Dividend of $0.22

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 is Thursday, June 5th.

Mosaic has increased its dividend by an average of 45.1% annually over the last three years. Mosaic has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. 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

NYSE MOS traded down $0.55 during trading hours on Friday, reaching $27.83. 4,173,801 shares of the company’s stock were exchanged, compared to its average volume of 4,289,323. The firm has a fifty day moving average of $26.48 and a 200-day moving average of $26.17. The company has a current ratio of 1.19, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27. Mosaic has a one year low of $22.48 and a one year high of $33.44. The stock has a market cap of $8.82 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Wall Street Analysts Forecast Growth

MOS has been the subject of a number of research reports. Barclays upgraded Mosaic from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $27.00 to $33.00 in a research note on Wednesday. Morgan Stanley dropped their target price on shares of Mosaic from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Scotiabank increased their price target on shares of Mosaic from $31.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Mosaic from a “neutral” rating to an “overweight” rating and raised their price target for the company from $26.00 to $29.00 in a report on Monday, March 3rd. Finally, The Goldman Sachs Group began coverage on Mosaic in a report on Thursday, March 13th. They set a “buy” rating and a $31.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mosaic has a consensus rating of “Hold” and a consensus price target of $32.67.

About Mosaic

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.