Summary
Deere & Company (DE) announced on May 24, 2011, through an 8-K filing, a significant increase in its quarterly dividend on common stock to $0.41 per share. This represents a 17% increase over the previous rate, amounting to an additional 6 cents per share, and marks the ninth dividend hike since early 2004. The company stated that this decision reflects confidence in its future prospects and its ability to generate long-term value for both customers and shareholders.
Key Highlights
- 1Deere & Company's Board of Directors approved a dividend increase to $0.41 per share on common stock.
- 2The new quarterly dividend rate represents a 6-cent per share increase, a jump of approximately 17% from the previous level.
- 3This marks the ninth time Deere & Company has increased its quarterly dividend since early 2004.
- 4The dividend is payable on August 1, 2011, to stockholders of record as of June 30, 2011.
- 5Chairman and CEO Samuel R. Allen cited confidence in the company's prospects and commitment to delivering long-term value.
- 6The company remains focused on meeting global needs for food and infrastructure, balancing organic growth funding with shareholder returns.
Frequently Asked Questions
This 8-K filing's primary purpose is to publicly announce Deere & Company's decision to increase its quarterly dividend on common stock.
The new quarterly dividend rate is $0.41 per share. It is payable on August 1, 2011, to shareholders who are on record as of June 30, 2011.
The dividend increase, the ninth since early 2004, signals management's confidence in the company's financial health, its ability to generate future earnings, and its commitment to returning value to shareholders.
Deere & Company is focused on meeting the increasing global demands for food and infrastructure, while simultaneously prioritizing funding for organic growth and returning capital to shareholders.