The Toro Company (TTC) will raise its quarterly dividend by 14.3 percent to $0.20 per share in the fourth quarter of 2017. This follows a 16.7 percent dividend hike by Toro in 2016.

The increased dividend is payable on January 10, 2018, to shareholders of record on December 22, 2017.The new dividend yield for TTC is 1.2%.

The Toro Company is a provider of solutions for the outdoor environment, including turf, snow and ground engaging equipment and irrigation and outdoor lighting solutions. The company’s products are used for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields. Its brands include Toro, Exmark, BOSS, Irritrol, Hayter, Pope, Unique Lighting Systems and Lawn-Boy.