Mosaic to Defer Canadian Expansion, Use Cash to Buy Back Shares

The Globe and Mail reported that Mosaic is deferring its plans for Canadian expansion, instead opting to buy back shares with an accumulated $2 billion cash pile.

As quoted in the Globe and Mail report:

Mosaic said it planned to use surplus cash to buy back shares rather than pay dividends. In addition to the $2-billion in cash, the company has $3-billion of debt capacity, it said in a regulatory filing on Monday.

To view the whole Globe and Mail report, click here.