John Deere Stock Buyback Program Sees Significant Increase

John Deere has been aggressively buying back its own stock, with a significant increase in its stock buyback program. This move is aimed at returning value to shareholders and reducing the number of outstanding shares.

The company's stock buyback program has seen a substantial boost, with a notable increase in the number of shares repurchased. In the latest quarter, John Deere repurchased over 2 million shares of its common stock.

This strategic move is part of John Deere's efforts to enhance shareholder value and improve its financial performance. By reducing the number of outstanding shares, the company aims to increase the value of each remaining share.

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Deere & Co. has increased its share buyback program by $8 billion.

The company's board of directors approved the boost, which will supplement the existing $5 billion share authorization announced in May 2008. Deere still has about $1 billion remaining from the original program.

Deere has repurchased about $11 billion of common stock since 2004.

The company's profits have been rising after it raised prices on farm and construction equipment. This has led to a 4.5 percent increase in Deere's stock price to $86.39 in morning trading Wednesday.

Deere's Chairman and Chief Executive Officer Samuel Allen said the decision to boost the share buyback program reflects the company's confidence in its long-term future growth opportunities.

The repurchase program will be made at the company's discretion in the open market.

Deere had about 375 million shares outstanding on October 31, 2013.

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Deere has a history of share buybacks, with about $11 billion of common stock repurchased since 2004. This is a significant amount, and it's clear that the company is committed to returning value to its shareholders.

The current share buyback program was announced in May 2008, with a $5 billion authorization. However, Deere has now expanded this program by $8 billion. This means that the company has a total of $13 billion available for share buybacks.

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Deere's profits have been rising, thanks in part to higher prices on farm and construction equipment. This excess cash is being used to fund the share buyback program. Buying back stock can boost the value of remaining shares, which is a win for investors.

The company has about 375 million outstanding shares as of October 31. This is a significant number, and it's clear that Deere is confident in its long-term future growth opportunities.