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The Board of Directors of Caterpillar Inc. last week declared a quarterly cash dividend of $0.42 per share of common stock, payable August 20, 2009, to stockholders of record at the close of business July 20, 2009.
“It is a tribute to Caterpillar’s strategic ‘trough’ planning and financial strength that we are maintaining the dividend rate in the face of the worst economic crisis since the Great Depression,” said Jim Owens, Caterpillar chairman and chief executive officer. “Just as we have during previous downturns, Caterpillar is positioning itself to emerge from this recession as a stronger company, and I am pleased we are able to reward stockholders who have invested in our company,” Owens said.
The $0.42 dividend maintains the dividend rate from the previous quarter, and including the announcement last week, Caterpillar has paid a cash dividend every year since the company was formed in 1925 and its cash dividend has nearly tripled since 1998.
