Tractor Supply (Nasdaq: TSCO), a supplier of farm ranch products, said it will pay its first-ever quarterly dividend on March 29th to shareholders of record on March 15th.

The Tennessee-based company will pay 14 cents a share giving the shares a yield of around one percent based on Monday's closing price.

Tractor Supply sells pet and animal supplies, farm maintenance products, lawn mowers and garden keeping-related products.

No, those aren't the sexiest businesses to be involved in, but the allure lies in the fact that Tractor Supply is paying its first dividend and has plans to pay a dividend in the three remaining quarters of 2010.

Throw in the fact that the shares have nearly doubled in the past year and still only trade 15 times forward earnings and we may have a growth stock with value traits.

Want more? Tractor Supply has more than $110 million in free cash and just $1.8 million in debt.