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The company last raised its dividend a year ago, and said it is raising it again because it is confident in its long-term cash flow.
Deere said earlier this month that its first-quarter net income leaped 22 percent on growing sales of farm machinery at higher prices.
The move increases Deere's dividend 11 percent. Deere said its next dividend is payable May 1 to shareholders of record on March 28.
Deere's stock rose $1.27 to $87.77 in midday trading. | 
