PLYMOUTH, Minn., April 21 /PRNewswire-FirstCall/ -- The Board of Directors
of The Mosaic Company (NYSE: MOS) has declared a cash dividend of $0.9375 per
share on the Company's 7.50% mandatory convertible preferred stock
(NYSE: MOSPRM) for the period April 3, 2006 through June 30, 2006. The
dividend is payable on July 3, 2006 to mandatory convertible preferred
stockholders of record at the close of business on June 15, 2006. This
mandatory cash dividend represents the final dividend payable to the Company's
preferred stockholders prior to the mandatory conversion of the preferred
stock.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060331/MOSAICLOGO )
The convertible preferred stock will automatically convert into shares of
Mosaic's common stock on July 1, 2006. There are 2,750,000 shares of
convertible preferred stock outstanding. In addition, 5,458,955 shares of
Class B Common Stock will also convert into shares of common stock on
July 1, 2006. No dividends are paid on the Class B Common Stock. The
mandatory conversion rate for both the mandatory convertible preferred stock
and the Class B Common Stock ranges from 6.444 to 7.8616 shares of common
stock for each share owned by investors. The final conversion rate will be
based on a formula tied to the closing price per share for Mosaic's common
stock on each of the 20 consecutive trading days ending on the third trading
day immediately preceding the mandatory conversion date.
The mandatory conversion of the preferred stock and the Class B Common
Stock will not affect the Company's fully diluted reported earnings per share.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers
of concentrated phosphate and potash crop nutrients. For the global
agriculture industry, Mosaic is a single source for phosphates, potash,
nitrogen fertilizers and feed ingredients. More information on the company is
available at http://www.mosaicco.com .
SOURCE The Mosaic Company
-0- 04/21/2006
/CONTACT: Media, Linda Thrasher, +1-763-577-2864, or Investor, Douglas
Hoadley, +1-763-577-2867, both of The Mosaic Company/
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060331/MOSAICLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com /
/Web site: http://www.mosaicco.com /
(MOS MOSPRM)
CO: The Mosaic Company
ST: Minnesota
IN: AGR CHM
SU: DIV
JJ-AM
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4169 04/21/200616:37 EDThttp://www.prnewswire.com