Deere & Co has super strong dividend history with double digit growth

Deere & Co dividend history
Deere is known for its double digit dividend increases (image: company website)

In this new weekly series, we explore top dividend growth stocks worldwide. In this edition, our focus is on Deere & Co (symbol DE), a $100 billion company specializing in agricultural, construction, and forestry equipment, renowned for its globally used tractors and heavy machinery. Deere either hikes the dividend by double digits or does not increase its dividend in a specific year.

This week, we're spotlighting Deere & Co, a $100 billion company known for its tractors and heavy machinery. In 2023, Deere increased its dividend three times, reaching $1.47 per share quarterly, with a remarkable 5-year CAGR of 14.1%. Check out the video from the Dividend Freak Youtube channel below for surprising insights and discover the history of the company founded by John Deere, who pioneered the self-scouring steel plow in 1837. 

Deere announced 3 dividend hikes in 2023

Deere has been paying a steady or growing dividend to shareholders for decades now with annual dividend payments since at least 1972.

The company’s dividend policy states that Deere aims for a consistently and moderately dividend increase targeting a 25%-35% payout ratio of mid-cycle earnings.

At the current stock price of $363 the dividend yield for Deere & Co stock is 1.6%. Deere now pays an estimated $1.69 billion in dividends annually with a total increase of 93% in the last 5 years. 

In a previous blog we looked at the amazing dividend growth history of semiconductor company Broadcom. This week the company surpassed the $1000 mark for the fist time in its history.

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