Farm equipment manufacturer Deere (NYSE:DE) 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.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.