AGCO, Your Agriculture Company, (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, announced that today its Board of Directors approved the initiation of quarterly cash dividends to its stockholders. A quarterly dividend of $0.10 per common share will be paid on March 15, 2013 to all stockholders of record as of the close of business on February 15, 2013. Future dividends will be subject to Board approval.
"We are optimistic about the outlook for our industry as well as for AGCO and the time is right for AGCO to begin paying a dividend," stated Martin Richenhagen, AGCO’s Chairman, President and Chief Executive Officer. "This dividend complements our capital allocation strategy and is an important part of our commitment to bring value to our stockholders."