Mosaic Hikes Dividend by 50%; Street Says Buy

Concentrated phosphate and potash crop nutrients producer The Mosaic Company (NYSE:MOS) recently announced a quarterly dividend of $0.1125 per share, an increase of about 50% from the previous dividend of $0.0750 cents.

Following the news, shares of the company dropped marginally on Friday. The stock, however, pared its losses completely to close at $37.08 in the extended trading session.

The dividend will be paid on March 17, 2022, to shareholders of record as of March 3, 2022.

Dividend Yield

The company’s annual dividend of $0.45 per share now reflects a dividend yield of 1.2% based on Friday’s closing price.

Notably, the company has been raising its quarterly dividend consistently over the past three years, making it an attractive choice for investors.

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Price Target

Recently, Piper Sandler analyst Charles Neivert initiated coverage on the stock with a Buy rating and a price target of $44, which implies upside potential of 20.7% from current levels.

The Street is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 4 Buys and 5 Holds. The average Mosaic price target of $46.33 implies that the stock has upside potential of 27.1% from current levels. Shares have gained about 1.7% over the past year.

Investors

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Mosaic. However, 0.8% of portfolios tracked by TipRanks have reduced their exposure to MOS stock over the past 30 days.