MOLINE, Ill., May 28, 2014 /PRNewswire/ -- The Deere &
Company (NYSE: DE) Board of Directors has approved an increase of
Deere's quarterly dividend to $.60 a
share on common stock. The dividend is payable on August 1, 2014 to stockholders of record on
June 30, 2014.
The new quarterly rate represents an increase of 9 cents per share, approximately 18 percent, over
the previous level. This is the twelfth increase to the Deere &
Company quarterly dividend in 10 years. Deere last raised its
dividend in February 2013.
"Deere is well-positioned to benefit long-term from global
trends that hold great promise for the company's customers and
investors," said Samuel R. Allen,
chairman and chief executive officer. "Our dividend increase
reflects our confidence in Deere & Company's ability to
generate strong cash flow throughout the cycle. We remain committed
to our plans for profitable growth and for returning cash to
shareholders."
Certain statements in this report are "forward-looking"
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 with respect to future events and financial
performance. These forward-looking statements involve risks and
uncertainties. Actual results may differ materially from those
contemplated (expressed or implied) by such forward-looking
statements, because of, among other things, the risks and
uncertainties found in the Company's press releases and other SEC
filings, including the risk factors identified under the headings
"Risk Factors" and "Management's Discussion and Analysis of Results
of Operations and Financial Condition" in the Company's most recent
Annual Report on Form 10-K, as well as the Company's Quarterly
Reports on Form 10-Q.
SOURCE Deere & Company