AGCO, Your Agriculture Company, (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, announced that today its Board of Directors approved the initiation of quarterly cash dividends to its stockholders. A quarterly dividend of $0.10 per common share will be paid on March 15, 2013 to all stockholders of record as of the close of business on February 15, 2013. Future dividends will be subject to Board approval.
"We are optimistic about the outlook for our industry as well as for AGCO and the time is right for AGCO to begin paying a dividend," stated Martin Richenhagen, AGCO’s Chairman, President and Chief Executive Officer. "This dividend complements our capital allocation strategy and is an important part of our commitment to bring value to our stockholders."
Forward looking Statement
This release contains forward-looking statements, which are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, and/or regulatory factors, and other risks detailed in the company's filings with the Securities and Exchange Commission. The company assumes no obligation to update any of these forward-looking statements.
AGCO, Your Agriculture Company, (NYSE: AGCO), is a global leader focused on the design, manufacture and distribution of agricultural machinery. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, tillage, implements, grain storage and protein production systems, as well as related replacement parts. AGCO products are sold through four core machinery brands, Challenger®, Fendt®, Massey Ferguson® and Valtra® and are distributed globally through 3,100 independent dealers and distributors in more than 140 countries worldwide. Retail financing is available through AGCO Finance for qualified purchasers. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In 2011, AGCO had net sales of $8.8 billion.