Monsanto to Buy Back $1 Billion of Shares on Record Cash
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Monsanto Co., the world’s largest seed company, will repurchase as much as $1 billion of shares as rising profit boosts the company’s cash horde to a record.
The buyback program is authorized for a three-year period beginning July 1, St. Louis-based Monsanto said today in a statement. The repurchases will begin with the completion of an earlier $1 billion buyback that began last July, Monsanto said. The company also declared a quarterly dividend of 30 cents a share payable July 27, unchanged from an April payment.