Mosaic Cuts Dividend Amid Weak Fertilizer Prices; Shares Fairly Valued
In the fourth quarter, Mosaic continued to struggle with weak fertilizer prices, but we think pricing gains in early 2017 will hold and build, providing some measure of relief. Still, the recent market improvement in potash and phosphate was not enough to stave off a dividend cut. Mosaic will pay an annual dividend of $0.60 per share going forward, down 45% from the previous level. The market was anticipating this cut, and the effect on today's stock price was minimal. We've maintained our fair ...Mosaic is a producer and marketer of concentrated phosphate and potash crop nutrients. The company is organized into three reportable business segments: Phosphates, which owns and operates mines and production facilities in Florida that produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana that produce concentrated phosphate crop nutrients; Potash, which mines and processes potash in Canada and the United States and sells potash in North America and internationally; and Mosaic Fertilizantes, which produces and sells concentrated phosphates crop nutrients, phosphate-based animal feed ingredients and potash fertilizer.
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