Deere & Co. Raises Quarterly Dividend by 18.4% to 90 Cents a Share
By Colin Kellaher
Deere & Co. on Wednesday said its board raised the quarterly
dividend by 18.4%, to 90 cents from 76 cents.
The new payout, equal to $3.04 a year, represents an annual
yield of about 1.07% based on Tuesday's closing price of $337.41,
up from 0.9%.
The Moline, Ill., maker of farm and construction machinery said
the dividend is payable May 10 to shareholders of record March 31,
adding that the large increase reflects its recent strong
performance and confidence in its future direction.
Deere last week reported fiscal first-quarter earnings that far
exceeded Wall Street's expectations and forecast solid full-year
Deere shares have doubled in the past 12 months.
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires
February 24, 2021 11:34 ET (16:34 GMT)
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