Deere hikes dividend by 8% to $1.35 quarterly per share
On August 30, 2023, Deere & Company (DE) announced its second dividend for 2023 with a new 8% increase to $1.35 quarterly per share. This comes after a smaller increase of 5 cents to $1.25 quarterly this February. The total dividend hike in 2023 is 12.5%. The dividend yield for Deere & Co jumps to 1.3% based on a new annual rate of $5.40 per share and a stock price of $415.
The next John Deere dividend is payable November 8, 2023 to stockholders of record on September 29, 2023 and the tractor maker now pays an estimated $1.58 billion in dividends annually.
Deere & Company is a manufacturer of agricultural, construction and forestry equipment. Deere operates three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts. The construction and forestry segment manufactures and distributes a range of machines and service parts. The company's financial services segment primarily finances sales and leases by the company dealers of new and used agriculture and turf equipment and construction and forestry equipment. Deere has been paying a dividend to shareholders every year since at least 1971.
