Deere Ramps Up Quarterly Dividend By 18%
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.