Monsanto (NYSE:MON) announced today that its Board of Directors has increased the quarterly dividend of the company from $0.265 a share to $0.28 a common share. That's an annualized rate of $1.12.
The increase is 5.7 percent, while the dividend yields 1.9 percent.
Shareholders of record as of October 8, 2010, will receive the dividend, payable on October 29, 2010.
Monsanto has recently been served with a class action lawsuit from shareholders. Specifically it targets the herbicide products, where shareholders say they failed to disclose material adverse facts related to that segment of the company.
The suit alleges the positive statements made in relationship to the earnings of Monsanto were "misleading" and "lacking in a reasonable basis."
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