Deere & Company's (DE) board increased the company's quarterly dividend to 69c per share on common stock. The dividend is payable August 1, to stockholders of record on June 29.

The new quarterly rate represents an additional 9c per share over the previous level, an increase of 15%. "Today's announcement reaffirms our confidence in the company's present direction and our belief that Deere will continue to deliver significant long-term value to investors and customers," said Samuel Allen, CEO.

"We remain committed that the more durable business model now in place at Deere will result in strong financial performance throughout the business cycle."