Tractor Supply hikes dividend by 76.9%

Tractor Supply (TSCO) will raise its quarterly dividend by 76.9 percent to $0.92 per share in 2022. This follows a dividend hike of 30 percent to 52 cents per share in 2021 and marks 12 consecutive years of higher dividends paid to shareholders. This also is the biggest dividend hike by TSCO on record.

The next dividend will be paid March 8, 2022, to stockholders of record on February 21, 2022. A new annualized rate of $3.68 per share yields 1.7% at a stock price of $215.

Tractor Supply Company is a rural lifestyle retailer that supplies basic maintenance products to home, land, pet and animal owners. The company operates retail stores under the names Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense. The stores, focused on supplying the needs of recreational farmers and ranchers, tradesmen and small businesses, are located primarily in towns outlying major metropolitan markets and in rural communities. The company was founded in 1938 by Charles E. Schmidt Sr. of Chicago, Illinois, who established a mail order tractor parts business. Tractor Supply went public on February 17, 1994.

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