The Toro Company announced on December 10, 2024, that its Board of Directors declared a regular quarterly cash dividend of $0.38 per share of common stock. This represents an increase from the previous quarter's dividend of $0.36 per share, marking the 16th consecutive year the company has raised its dividend.
The increased dividend is payable on January 13, 2025, to shareholders of record as of December 23, 2024. This consistent dividend growth underscores the company's stable financial position and its ongoing commitment to providing returns to its shareholders.
Additionally, the Board authorized the repurchase of up to an additional 4 million shares of TTC's common stock. These repurchases can occur through open-market or privately negotiated transactions, providing management with flexibility to enhance shareholder value.
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