Summary
Deere & Company (DE) announced on February 29, 2012, that its Board of Directors has approved an increase in its quarterly dividend on common stock to $0.46 per share. This represents a 12 percent increase over the previous dividend, or an additional 5 cents per share. This marks the tenth dividend increase for Deere & Company since early 2004. This action reflects the company's confidence in its future prospects and its ability to deliver strong products and services to its customers. Management reiterated its commitment to funding organic growth initiatives while simultaneously returning capital directly to shareholders. Investors should view this dividend increase as a positive signal regarding the company's financial health and its focus on shareholder returns.
Key Highlights
- 1Deere & Company's Board of Directors approved a dividend increase to $0.46 per share on common stock.
- 2The new quarterly dividend represents a 12% increase over the previous rate, amounting to an additional 5 cents per share.
- 3This is the tenth dividend increase for Deere & Company since the beginning of 2004.
- 4The increased dividend is payable on May 1, 2012, to stockholders of record as of March 30, 2012.
- 5CEO Samuel R. Allen expressed confidence in the company's prospects and its commitment to serving customers.
- 6The company remains committed to its plans for funding organic growth and returning cash to shareholders.