Monsanto's Payout Grows Higher

A more bountiful dividend harvest is in store for investors in Monsanto. Last Tuesday, the world's No. 1 producer of genetically modified seeds sweetened its quarterly common payout by 14%, to 49 cents a share from 43 cents. The latest hike will put an additional $126 million in stockholders' pockets annually, and it gives the shares a 1.7% current yield. Bank of America had tried twice this year to raise its dividend for the first time since the financial meltdown. Its third attempt was the charm. Safety Insurance Group increased its quarterly common dividend 17% last Wednesday, to 70 cents a share from 60 cents.