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Harley-Davidson raises dividend to 21 cents

MILWAUKEE (AP) -- Harley-Davidson Inc. said Tuesday that will raise its first-quarter dividend by 35.5 percent.

The motorcycle maker said it would pay out 21 cents per share, up from 15.5 cents. The next dividend will be payable March 1 to shareholders as of Feb. 19.

Harley-Davidson shares rose 81 cents, or 1.5 percent, to $53.35 in after-hours trading. They closed up 1.5 percent at $52.54 in regular trading. That's near the Milwaukee company's 52-week high of $54.62 reached in January; the low was $37.84 in October.

The company has cut costs after demand fell for motorcycles during the recession. Sales have recovered somewhat in the past few years.