Mosaic Profits Down 22% on Weak Phosphate Prices

Lower phosphate prices weighed on Mosaic's fourth quarter results, although the company beat Wall Street estimates and announced it will double its annual dividend. The company  posted net earnings of $507 million for the quarter ended May 31, 2012, down 22% from the year-ago quarter. Excluding special items, the company posted earnings of $1.19/share, exceeding analysts' estimates of $1.15/share, as reported by Thomson Reuters (New York). Sales were flat at $2.8 billion.  "The extended spring season in North America, along with continuing strong...

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