Food prices boost Syngenta dividend

first_imgWednesday 9 February 2011 7:29 pm Tags: NULL Show Comments ▼ Share Food prices boost Syngenta dividend SWISS agricultural group Syngenta is set to benefit from soaring food prices as farmers invest in products to boost harvests and buy more weed and bug killers from the world’s largest agrochemicals company.The group lifted its dividend a sixth to SwFr7, above a forecast for 6.14 francs, and said it was launching a $200m share buyback programme.Net profit at Syngenta slipped one per cent to $1.40bn last year, beating a forecast for $1.28bn.The group, now integrating its crop protection and seeds businesses to gain total annualised cost savings of around $650m in 2015, is targeting a gross profit margin in the range of 22-24 per cent by 2015.Syngenta shares, which had gained 12 per cent this year, were up 4.4 per cent yesterday.“At the current commodity prices, farmers have plenty of opportunity to invest heavily in the crop inputs,” chief executive Mike Mack said. “It is a good place for 2011.”Spiralling wheat, corn and soybean costs should encourage farmers to buy products from Syngenta and rivals such as DuPont and Monsanto as they seek to boost yields. whatsapp whatsapp KCS-content More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comlast_img

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