BRENTWOOD (AP) - Tractor Supply Co. said Thursday that its board boosted the farm equipment retailer's quarterly cash dividend by 8 cents, or 67 percent, to 20 cents.

The dividend will be paid on June 5 to shareholders of record as of May 21.

Jim Wright, the company's chairman and CEO, said the increase reflects the board's continued confidence in the Brentwood, Tenn.-based company's long-term business plan and future prospects.

Tractor Supply shares fell 44 cents to $99.33 in midday trading.