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DEERE & COMPANY RAISES DIVIDEND FOR 9TH TIME IN 7 YEARS
May 25, 2011
Source: Deere & Co. news release
The Deere & Company (NYSE: DE) Board of Directors has approved an increase of the company's dividend to $.41 a share on common stock. The dividend is payable August 1, 2011 to stockholders of record on June 30, 2011.
The new quarterly rate represents an increase of 6 cents per share over the previous level - an increase of approximately 17 percent. This is the ninth increase to the Deere & Company quarterly dividend since early 2004.
"Today's announcement reinforces our confidence in the company's prospects and ability to deliver significant value to customers and investors over the long term," said Samuel R. Allen, chairman and chief executive officer.
"As we continue to focus on meeting the world's increasing needs for food and infrastructure, we remain committed to funding the company's organic growth while also returning cash directly to our shareholders."
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