Deere & Company (NYSE:DE) Announces Quarterly Dividend of $1.62

Key Points

• Deere declared a quarterly dividend of $1.62 per share, payable November 9 to shareholders of record September 30. The dividend implies an annualized payout of $6.48 and a yield of approximately 1.0%.
• The dividend appears well covered, with a current payout ratio of 29.3% and an expected future payout ratio of 28.6%; Deere has raised its dividend for four consecutive years.
• Deere’s latest quarterly results exceeded expectations, with EPS of $5.10 versus the $4.69 consensus and revenue of $12.61 billion, up 6.2% year over year.

Deere & Company (NYSE:DE - Get Free Report) declared a quarterly dividend on Wednesday, August 26th. Shareholders of record on Wednesday, September 30th will be given a dividend of 1.62 per share by the industrial products company on Monday, November 9th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th.

Deere & Company has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 4 years. Deere & Company has a dividend payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $22.68 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 28.6%.

Deere & Company Trading Up 0.4%

Shares of DE stock opened at $633.36 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The company has a market cap of $170.97 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a fifty day moving average price of $610.13 and a 200-day moving average price of $592.80.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analysts' expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $4.75 EPS. As a group, equities analysts predict that Deere & Company will post 18.09 earnings per share for the current year.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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