By Colin Kellaher

 

Deere & Co.'s board has raised the farm and construction machinery maker's quarterly dividend for a second straight quarter, boosting the payout by 8.9%, to $1.47, from $1.35.

The new dividend, equal to $5.88 a year, represents an annual yield of about 1.61% based on Wednesday's trading price of $366.25, up from 1.47%.

The Moline, Ill., company, which in August raised its payout by 8%, said the increased dividend is payable Feb. 8 to shareholders of record Dec. 29.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

December 06, 2023 12:48 ET (17:48 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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