Caterpillar Inc. last week declared a quarterly cash dividend of 30 cents per share on its common stock, payable May 19, to stockholders of record at the close of business April 23.

The 30 cent dividend maintains the dividend rate for the previous quarter and is 20-percent higher than the dividend paid a year ago. Caterpillar has paid a dividend every year since incorporation in 1925.

"Strong financial performance has enabled Caterpillar to reward stockholders through dividends over a long period of time,” said Jim Owens, Caterpillar chairman and CEO. “Going forward, we are continuing our commitment to stockholders by rewarding them through quarterly dividends and our recently announced $7.5 billion stock repurchase program."

With 2006 sales and revenues of $41.5 billion, Peoria, Ill.-based Caterpillar is a leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.