The Toro Company (TTC) will raise its quarterly dividend from $0.15 to $0.175 per share, adjusted for the two-for-one stock split effective September 16, 2016.

This dividend is payable on January 12, 2017 to shareholders of record on December 27, 2016. Today’s dividend increase indicates an annualized rate of $0.70 per share and a yield of approximately 1.2% based on the $56.54 closing price on December 8, 2016.

The Toro Company is a provider of solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. Toro's products help customers care for golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. The company’s brands include Toro, Ditch Witch, Exmark, BOSS Snowplow, American Augers, Subsite Electronics, HammerHead, Trencor, Unique Lighting Systems, Irritrol, Hayter, Pope, Lawn-Boy and Radius HDD. The Toro Motor Company was founded on July 10, 1914 to build engines for the #1 brand of farm tractors in the United States – The Bull Tractor Company. The name “Toro” is chosen because of the company’s association with Bull.