MOLINE, Ill., May 24, 2011 /CNW/ -- The Deere & Company (NYSE: DE) Board of Directors has approved an increase of the company's dividend to $.41 a share on common stock. The dividend is payable August 1, 2011 to stockholders of record on June 30, 2011. The new quarterly rate represents an increase of 6 cents per share over the previous level - an increase of approximately 17 percent. This is the ninth increase to the Deere & Company quarterly dividend since early 2004.
"Today's announcement reinforces our confidence in the company's prospects and ability to deliver significant value to customers and investors over the long term," said Samuel R. Allen, chairman and chief executive officer. "As we continue to focus on meeting the world's increasing needs for food and infrastructure, we remain committed to funding the company's organic growth while also returning cash directly to our shareholders."
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.
For further information: Ken Golden, Director, Global Public Relations of Deere & Company, +1-309-765-5678 Web Site: http://www.deere.com