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AGCO initiates dividend

Tractor manufacturer AGCO Corp (AGCO) will start paying its first ever dividend. The global agricultural company will initiate a quarterly dividend of $0.10 per share, giving the stock of dividend yield of 0.8% at the current price of $53.

AGCO Corporation is a manufacturer and distributor of agricultural equipment and solutions. AGCO products are sold through five core brands, Challenger, Fendt, GSI, Massey Ferguson and Valtra, supported by Fuse smart farming solutions. The company was founded in 1990 and is headquartered in Duluth, Georgia, USA.