AGCO - AGCO declares $4/share special dividend part of new capital return strategy

[[AGCO]] unveils a new capital return framework to include an annual special dividend in addition to regular quarterly dividend payments and stock buybacks.AGCO says its special dividend will be based on cash flow generated in the prior fiscal year, expected future earnings and other factors; it declares the first variable special dividend in the amount of $4.00/share.Any future annual variable special dividends are expected to be declared and paid in the first quarter of each year.The company also raises its quarterly dividend by 25% to $0.20/share from $0.16/share, and says it will target $120M-$150M of share repurchases in 2021.AGCO shares have been trading at all-time highs as U.S. corn, soybeans and wheat futures have all touched multi-year highs.

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AGCO declares $4/share special dividend, part of new capital return strategy