Deere & Company Declares Regular Quarterly Dividend of 22 Cents; Will Contribute $475 Million to Fund Pension and Benefits Plans

MOLINE, Ill., Feb. 26 -- The Deere & Company board of directors today declared the regular quarterly dividend of 22 cents per share, payable May 01, 2003, to shareholders of record on March 31, 2003. In addition, the company announced that it will make cash contributions of $200 million to its hourly employee pension plan, $200 million to its salaried employee pension plan, and $75 million to other post-retirement employee benefit plans. The company elected to make these payments to its U.S. plans in order to strengthen their funded status. The contributions will be made from cash on hand the company said.