Conservative · Stocks to Consider and Updates

Deere Hikes Dividend

Deere & Co. (NYSE: DE – $154.39) the Moline, Ill. maker of farm, construction and forestry machinery said its Board of Directors raised the quarterly dividend 10% to $0.76 per share from $0.69, striking a confident tone despite a slowdown in agricultural sales. Deere last month said its world-wide farm-equipment sales would rise just 3% this fiscal year, down from 15% growth in the year that ended in October. Sales of tractors and combines to farmers hurt by tariffs on U.S. crops and meat are slowing, jeopardizing a promising recovery for agricultural-machinery makers. In an accompanying statement by Deere’s chairman and CEO Samuel R. Allen: “The dividend increase reflects the sound financial position of the company and confidence in our ability to generate strong cash flows through the cycle going forward. The new dividend will be payable February 1, 2019, to shareholders of record on December 31, 2018.

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