UPDATE: Mosaic Posts 22% Drop In FQ4 Profit, Raises Dividend

Mosaic Co

posted a 22% decline in its fiscal fourth quarter profit. Mosaic's quarterly net income dropped to $507.3 million, or $1.19 per share, from $649.2 million, or $1.45 per share, in the year-ago period. Its revenue declined around 1% to $2.82 billion, versus analysts' estimates of $2.55 billion. It lifted its quarterly dividend to $0.25 per share from 12.5 cents per share. Mosaic shares rose 2.94% to $57.00 in pre-market trading.