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Deere Board Raises Quaterly Dividend to 51 Cents From 46 Cents

Feb. 27 (Bloomberg) -- 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.”

To contact the reporter on this story: Shruti Date Singh in Chicago at ssingh28@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

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