The board of directors of Caterpillar Inc. voted this week to maintain the quarterly cash dividend of $0.46 per share of common stock, payable Feb. 18, 2012, to stockholders of record at the close of business Jan. 20.

“As we come to the close of 2011, I am pleased with Caterpillar’s strong and steady performance during a year that has had many ups and downs in the global economy,” said Caterpillar chairman and CEO Doug Oberhelman. “In this environment, we have continued to increase wealth for our stockholders, while strengthening our financial position and improving cash flow. At the same time, we have announced a series of key investments to position Caterpillar for long-term growth.”

For 18 years in a row, Caterpillar has paid higher dividends to its stockholders, and since 1998, the company's cash dividend has more than tripled. Including the announcement this week, Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a dividend every quarter since November 1933.

“Across the company this year, we have remained focused on our objectives and that gives us confidence in our ability to deliver on our business goals for 2011,” Oberhelman said. “Combined with our belief in our 2015 strategic plan, today we are reaffirming our outlook.”

2011 sales and revenues are expected to be about $58 billion. The 2011 outlook includes about $2 billion in Bucyrus sales. Excluding the impact of the Bucyrus acquisition, Caterpillar expects sales and revenues will be about $56 billion in 2011. It expects 2011 profit of about $6.75 per share. The outlook includes a negative impact from the acquisition of Bucyrus of about $0.50 per share, which is unchanged from the previous outlook. Excluding the impact of Bucyrus, the company expects 2011 profit of about $7.25 per share.

Caterpillar said it is close to finalizing its business plans for 2012, and in late January when it issues full-year results for 2011, it will issue a more detailed 2012 outlook. The preliminary outlook for 2012 sales and revenues is based on improving but slow growth in the developed parts of the world with continuing improvement in sales from what are currently low levels. The company expects sales and revenues to improve 10 to 20 percent from the 2011 outlook of about $58 billion. The 2012 outlook includes a full year of Bucyrus-related sales of about $5 billion, up from a partial year of about $2 billion in 2011.

Caterpillar is headquartered in Peoria, Ill.