Mosaic Co (MOS) will raise its quarterly dividend by another 50 percent to 11.25 cents. Earlier in 2021 MOS had already hiked its dividend by 50 percent to 7.5 cents per share. This is the second dividend hike since 2019 by the fertilizer maker and marks 3 consecutive years of increases.

The next MOS quarterly dividend will be paid on March 17, 2022, to stockholders of record as of the close of business on March 3, 2022. A new annual rate of 45 cents per share yields 1.2% at a stock price of $36.46. The annual dividend payment by Mosaic will jump to $171 million.

The Mosaic Company is a producer and marketer of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. Mosaic operates through three segments: Phosphates, Potash and Mosaic Fertilizantes.