Deere hiked its quarterly common stock dividend by 18% to $0.90 per share. Shares of the manufacturing company spiked almost 2.5% to close at $345.66 on Feb. 24. Deere (DE) announced that the new dividend will be paid on May 10, to shareholders of record as of March 31. The company’s annual dividend of $3.60 per share now reflects a dividend yield of 1.04%. Deere CEO John C. May said, “The dividend increase is a reflection of Deere’s recent strong performance and it shows our confidence in the company’s future direction.” Last week, Deere reported fiscal first-quarter results. The company’s 1Q earnings more than doubled to $3.