Farm equipment manufacturer Deere announced this morning its second-quarter dividend of $0.51 per share, the same rate it paid last quarter after raising the payout 11%, from $0.46 per share.
The board of directors said the quarterly dividend is payable on Aug. 1 to the holders of record at the close of business on June 28. Deere has paid a dividend every year since 1971 and has increased the payout every year since 2004.
The regular dividend payment equates to a $2.04-per-share annual dividend, yielding 2.4% based on the closing price of Deere's stock on May 29.
The article Deere Keeps Dividend Steady at $0.51 originally appeared on Fool.com.
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