Deere (DE) , a manufacturer of agricultural, construction, and forestry machinery, today said that its board of directors has declared a regular quarterly dividend of 60 cents per common share.

The dividend is payable on August 1 to stockholders of record at the close of business on June 30.

Last week, Deere said that its fiscal second-quarter profit and revenue rose and both surpassed analyst estimates, and it raised its outlook for fiscal 2017 equipment sales growth outlook to 9% from 4% earlier.

Shares of the Moline, IL-based firm were higher during midday trading on Wednesday.

Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.

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