Deere & Co., the world’s largest agricultural-equipment maker, raised its quarterly dividend by 11 percent to 51 cents a share from 46 cents previously.
The increase is the 11th since early 2004, the Moline, Illinois-based company said today in a statement. The boosted dividend is payable May 1 to holders of record on March 28.
“Our dividend increase reflects our confidence in our long-term cash flows,” Chairman and Chief Executive Officer Sam Allen said in the statement. “Deere is well-positioned to benefit from major trends that we continue to believe hold great promise.”