Monsanto (MON) Ups Dividend

Monsanto (MON) seems to reacting quite nicely to what I perceive as a very modest increase in the dividend.

  • Monsanto Co. said Wednesday its board of directors approved increasing the company’s quarterly dividened to 28 cents per share from 26.5 cents per share.  The world’s biggest seed maker will pay the dividend on Oct. 29 to shareholders of record on Oct. 8. Chief Financial Officer Carl Casale said dividends are a key element of Monsanto’s approach to using its strong cash position to benefit shareholders.

Either way, as our largest position, I am happy with the move since I need something to move out of this quicksand I am now in.  As mentioned earlier this week when I added to the position, I’ll be taking profits if and when in mid $64s range – if the stock can clear that area with ease, we’ll be right back in.  If the market remains benign this move to that level looks like a no brainer, but as you should know by now with the entire market now one correlation trade we are mostly hostage to the the greater indexes as almost every stock is proxy of it.

Got milk seed?

Disclosure: Long Monsanto in fund; no personal position

About Mark Hanna 543 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

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