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June 4 (Bloomberg) -- Agco Corp. plans to pay its first dividend in 22 years this year, Financial Times Deutschland reported, citing an interview with Executive Officer Martin Richenhagen.

If the supervisory board agrees, the farm machinery maker will pay shareholders $0.50 a share, Richenhagen told the German newspaper. Richenhagen also plans to start a share buyback program to make the stock “more attractive” to shareholders, Richenhagen told FTD.

To contact the reporter on this story: Julie Cruz in Frankfurt at

To contact the editor responsible for this story: Celeste Perri at

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