Deere & Company (DE) will raise its quarterly dividend by another 16.7 percent to $1.05 per share in Q3 of 2021. This is the second hike announced in 2021 and follows a 18.4 percent increase by DE to 90 cents per share in February 2021. The agricultural equipment maker however did not raise the dividend in 2019 and 2020.

The increased DE dividend of $1.05 is payable November 8, 2021, to stockholders of record on September 30, 2021. A new annualized rate of $4.20 per share for Deere & Co yields 1.2% at a stock price of $366. The next ex-dividend date for DE is September 29, 2021. 

Deere & Company is a manufacturer of agricultural, construction and forestry equipment. Deere operates three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts. The construction and forestry segment manufactures and distributes a range of machines and service parts. The company's financial services segment primarily finances sales and leases by the company dealers of new and used agriculture and turf equipment and construction and forestry equipment. Deere has been paying a dividend to shareholders every year since at least 1971.