By Denny Jacob

 

Deere & Co. said Wednesday that its board raised its quarterly dividend to $1.13 a share.

The farm equipment maker said the new quarterly rate adds about 8 cents a share from the previous level, an increase of about 8% a share.

The quarterly dividend is payable on August 8 to shareholders of record on June 30, the company said.

Chief Executive John May said in prepared remarks the increase reflects the company's recent performance and confidence in its future direction.

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

May 25, 2022 13:19 ET (17:19 GMT)

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