By Colin Kellaher

 

Deere & Co. on Wednesday said its board raised the quarterly dividend by 16.7% to $1.05 from 90 cents.

The new payout, equal to $4.20 a year, represents an annual yield of about 1.14% based on Tuesday's closing price of $367.98, up from just under 1%.

The Moline, Ill., maker of farm and construction machinery said the dividend is payable Nov. 8 to shareholders of record Sept. 30.

Deere earlier this year raised its quarterly dividend by 18.4% to 90 cents.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

August 25, 2021 12:39 ET (16:39 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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