Deere & Company (NYSE: DE) might have enjoyed any other day discussing a new factory in China as it expands closer to other end-markets, but today’s excitement is around a higher dividend for its shareholders. The farming and agriculture equipment manufacturer hiked its payout by 17% to $0.41 per quarter or $1.64 per year. After the sell-ff we have seen from highs, the management team at Deere is trying to maintain that business and operations remain strong.
We took a look around to try to see what management was thinking here. Even after a 1.4% gain to $84.25 today, the 52-week range is $53.20 to $99.80. That 52-week high was as recently as April 1, 2011 and Deere’s stock was above $95.00 as recently as May 4, 2011. In short, management wants to signal that a rising dollar is not going to crimp its business plans by too much.
We took a look around to try to see what management was thinking here. Even after a 1.4% gain to $84.25 today, the 52-week range is $53.20 to $99.80. That 52-week high was as recently as April 1, 2011 and Deere’s stock was above $95.00 as recently as May 4, 2011. In short, management wants to signal that a rising dollar is not going to crimp its business plans by too much.
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