The board of directors of Caterpillar Inc. last week declared a quarterly cash dividend of $0.42 cents per share of common stock, payable Feb. 20, 2010, to stockholders of record at the close of business Jan. 20.
“The economic crisis of the last year has been unprecedented, but Caterpillar’s focus on preparing for a recession, dating back to the strategy we rolled out in 2005, has served us well,” said Caterpillar chairman and CEO Jim Owens. “We’re making tough decisions required to come out of this downturn as a stronger company. I am pleased we are maintaining our dividend rate and rewarding our stockholders. Caterpillar has been one of the top companies in the S&P 500 and Dow Jones Industrial Average for total stockholder return (stock appreciation plus dividends) over the last 10 years.”
The $0.42 dividend maintains the dividend rate from the previous quarter. Caterpillar has paid a cash dividend every year since the company was formed in 1925 and its cash dividend has nearly tripled since 1998.
Caterpillar Inc. is headquartered in Peoria, Ill.