Deere & Co. Hikes Dividend by 7%

Deere & Co.’s (DE) board of directors declared a dividend payment today of $.30 a share on common stock from 28 cents, payable August 2, 2010, to stockholders of record on June 30, 2010. The new quarterly rate represents an increase of 7% per share over the previous level.

Last week, Deere posted a second-quarter adjusted profit of $1.58 per share on revenue of $7.13 billion.

Deere shares were up $1.00, or 1.79%, to $56.88 following the dividend announcement.

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