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Deere Raises Dividend

It boosts the quarterly payout by a nickel.

Deere (DE) - Get Deere & Company Report raised its quarterly dividend by a nickel to 44 cents a share.

The Moline, Ill., tractor maker said it has doubled its payout since 2004.

"This action, in conjunction with investing to meet customer requirements for advanced, productive machinery and ongoing share repurchases, lends further support to our goal of delivering superior long-term value to investors," said CEO Robert W. Lane. "It also reflects confidence in Deere's future direction and its ability to produce strong levels of cash flow on a sustainable basis. Over the period since early 2004, Deere also has repurchased more than $2 billion of common stock and made voluntary contributions to strengthen its employee pension and health-care plans."

The 44-cent dividend is payable Feb. 1 to stockholders of record Dec. 31.

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