Consumer landscape equipment maker Toro (NYSE:TTC) announced yesterday its second-quarter dividend of $0.14 per share, the same rate it paid the past two quarters after raising the payout 27% from $0.11 per share.

The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on June 26. Toro has paid quarterly dividends since 1984.

The regular dividend payment equates to a $0.56-per-share annual dividend, yielding 1.2% based on the closing price of Toro's stock on May 21.

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