Agriscience company Corteva, Inc. (CTVA) will hike its quarterly dividend by 7.7 percent to 14 cents per share in 2021. This is the first dividend hike since CTVA started paying a quarterly dividend of $0.13 per share in the third quarter of 2019. That was the first common stock dividend after its spinoff from DowDuPont in 2019.
The next dividend is payable September 15, 2021, to shareholders of record on August 13, 2021. A new annualized dividend rate of 56 cents yields approximately 1.3% at a stock price of $42.18.
Corteva Agriscience provides farmers with seeds and crop protection products. The company's brands include Pioneer, Granular and Brevant seeds. Corteva Agriscience became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont, created by combining DuPont Crop Protection, DuPont Pioneer and Dow AgroSciences.