The Cummins Inc. board of directors this week increased the company’s quarterly cash dividend on common stock by 52 percent to 40 cents per share from 26.25 cents per share.
The dividend is payable on Sept. 1, to shareholders of record on Aug. 22. Cummins last raised its dividend in July 2010.
“Cummins had its most profitable year in its history in 2010 and we expect that 2011 will be an even better year,” said Cummins chairman and CEO Tim Solso. “As a result, we are further rewarding our shareholders for their support.”
Headquartered in Columbus, Ind., Cummins Inc. designs, manufactures, distributes and services engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems.