Monsanto to Repurchase $1 Billion in Shares

Monsanto will launch a new, $1 billion share repurchase program on July 1, the company announced today. The program will last for three years. An existing, $800 million share repurchase plan is expected to be complete by the end of this year, over a year ahead of schedule, Monsanto says. The company also declared a quarterly dividend of 26.5 cts/share, payable on July 30 to shareholders as of July 9. The company's earnings forecast has taken a hit due to competition from generic glyphosate herbicides, damaging profits from its Roundup brand. Monsanto is now...

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