Mosaic Approves Reduction In Annual Dividend Target - Quick Facts

(RTTNews) - Mosaic Co. (MOS) approved a reduction in the annual dividend target to $0.10 per share and declared a quarterly dividend of $0.025 per share to be paid on December 21, 2017 to stockholders of record as of close of business on December 7, 2017.

Mosaic also announced the idling of its Plant City, Florida concentrates plant for an indefinite period of at least one year. The company expects the move to ensure minimal market disruption from new capacity additions, including Mosaic's Saudi Arabian joint venture, and is expected to result in higher phosphate margins and lower capital requirements.

Mosaic said it has identified additional value creation opportunities ahead of the pending acquisition of Vale Fertilizantes, which are expected to result in $275 million of annualized improved cash flow by the end of 2020. This guidance replaces the previously announced target of $75 million in annual operating synergies.