AGCO Corp (AGCO) will raise its quarterly dividend by 6.7 percent to $0.16 per share in the first quarter of 2019. Last year AGCO hiked its dividend by 7.1 percent, marking the 5th year of annual dividend increases.

The next dividend will be paid on June 14, 2019 to all stockholders of record as of the close of business on May 15, 2019. A new annualized dividend rate of 64 cents per share yields 0.9% at a stock price of $70.87.

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. AGCO has paid a dividend every year since 2013.