MOLINE, Ill., Dec. 1, 2010 /PRNewswire-FirstCall/ -- The Deere & Company (NYSE: DE) Board of Directors today increased the company's dividend to $.35 a share on common stock. The dividend is payable February 1, 2011 to stockholders of record on December 31, 2010. The new quarterly rate represents an increase of 5 cents per share over the previous level – an increase of approximately 17 percent.
"Deere & Company has consistently displayed its objective to create shareholder value over the long term," said Samuel R. Allen, chairman and chief executive officer. "Today's announcement emphasizes that we remain confident in the future direction of the company as Deere sharpens its strategic focus and concentrates its resources on growing our core equipment businesses around the world."
Since early 2004, the company has increased its quarterly dividend on eight separate occasions including today's announcement.
Certain statements in this report are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to future events and financial performance. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated (expressed or implied) by such forward-looking statements, because of, among other things, the risks and uncertainties found in the Company's press releases and other SEC filings, including the risk factors identified under the heading "Risk Factors" in the "Management's Discussion and Analysis of Results of Operations and Financial Condition" in the Company's most recent Annual Report on Form 10-K, as well as the Company's Quarterly Reports on Form 10-Q.
SOURCE Deere & Company