BRENTWOOD, Tenn. — Tractor Supply Company, the largest retail farm and ranch store chain in the United States, has announced that its board increased the company's quarterly cash dividend 30% to $0.26 per share.
"We are pleased to announce the board's decision to increase our quarterly cash dividend for the third consecutive year. Our dividend program, initiated in 2010, is a key component of our balanced capital allocation strategy, combined with capital investments and share repurchases. These programs are designed to drive shareholder value. This 30% dividend increase reflects our board's continued confidence in the Tractor Supply business model and our team's ability to execute the company's long-term growth strategy," said president and CEO Greg Sandfort.
Tractor Supply Company operates 1,197 stores in 45 states. The company's stores are focused on supplying the lifestyle needs of recreational farmers and ranchers. The company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as tradesmen and small businesses. Stores are located in towns outlying major metropolitan markets and in rural communities. The company carries equine, pet and small animal products, including items necessary for their health, care, growth and containment; hardware, truck, towing and tool products; seasonal products, including lawn and garden items, power equipment, gifts and toys; maintenance products for agricultural and rural use; and work/recreational clothing and footwear.