Toro (TTC) Increases Quarterly Dividend 11.1% to $0.20; Yields 1.3%; Authorizes 3M Common Buyback

The Toro Company (NYSE: TTC) continues to return value to shareholders through dividend payments and share repurchases. Today, the company announced that its board of directors declared a regular quarterly cash dividend of $0.20 per share, $0.80 annualized. The dividend is an 11.1% increase from the current rate of $0.18. This dividend is payable on January 11, 2011 to shareholders of record on December 17, 2010. The ex-dividend date is December 15, 2010. Yield on the dividend is 1.3%. The board also authorized the repurchase of 3 million shares of common stock, in addition to the 1.3 million shares remaining under the prior authorization.... Read more

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