The Toro Company Board of Directors Increases Regular Quarterly Cash Dividend
BLOOMINGTON, Minn.– The Toro Company (NYSE: TTC) has announced that its Board of Directors has approved an increase in the regular quarterly cash dividend. Shareholders will now receive $0.36 per share of TTC’s common stock, marking a rise from the previous quarter’s dividend of $0.34 per share. This decision signifies the company’s commitment to consistently delivering value to its shareholders, as it marks the 15th consecutive year of dividend increases by The Toro Company. The dividend will be payable on January 11, 2024, to shareholders of record as of the close of business on December 27, 2023.
The Board’s decision to increase the quarterly cash dividend reflects our ongoing confidence in the strength of our business and our commitment to creating long-term value for our shareholders, said Rick Olson, Chairman and Chief Executive Officer of The Toro Company. We are proud to continue our track record of increasing dividends, which demonstrates our consistent performance and dedication to generating strong returns for our shareholders.
The Toro Company is a global leader in providing innovative solutions for the outdoor environment. With a focus on turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions, the company has established a strong presence in more than 125 countries. The Toro Company’s family of brands includes well-known names such as Toro, Ditch Witch, Exmark, BOSS, and Pope, among others.
The company’s commitment to excellence sets it apart in the industry. In fiscal 2022, The Toro Company achieved net sales of $4.5 billion, a testament to its ability to meet the diverse needs of its customers across various sectors. The company’s dedication to constant innovation and its strong relationships built on trust and integrity have solidified its position as a preferred choice for professionals in golf courses, sports fields, construction sites, public green spaces, commercial and residential properties, and agricultural operations.
The increase in the dividend is not only a reflection of The Toro Company’s financial performance but also a demonstration of its dedication to reward shareholders and provide them with attractive returns on their investments. By continually increasing dividends, the company shows its commitment to generating sustainable growth and enhancing shareholder value.
Please visit www.thetorocompany.com for more information about The Toro Company and its family of brands.
