The board of directors of Caterpillar Inc. voted this week to maintain the quarterly cash dividend of $0.60 per share of common stock, payable Nov. 20, to stockholders of record at the close of business on Oct. 21.
"I am pleased to announce we are maintaining Caterpillar's dividend due to the continued strength of our balance sheet and strong cash flow, which has placed us in a good position to reaffirm our long-standing commitment to stockholders," said Caterpillar chairman and CEO Doug Oberhelman. "This action, following the 15-percent increase in our quarterly dividend announced in June and $2 billion in stock repurchases also completed this year, clearly demonstrates how we are taking advantage of our strong cash position to deliver on our commitments to our stockholders."
With this dividend, Caterpillar will have paid higher dividends to its stockholders for 20 consecutive years, and since 1998, the company's cash dividend has more than tripled. Including the announcement today, Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.
The company will release third-quarter 2013 financial results at 6:30 a.m. Central time on Wednesday, Oct. 23. A real-time, listen-only teleconference of the quarterly results call that Caterpillar conducts with security analysts and institutional investors will begin at 10 a.m. Central time the same day. The one-hour conference call can be accessed by telephone by dialing (877) 216-8554 (domestic) or (973) 528-0009 (international) and providing the listen-only entry code 5621.
The call can be accessed in real time through http://www.caterpillar.com/Irwebcast. Listeners should go to the website at least 15 minutes before the live event to download and install any necessary audio software. For those unable to participate in the live broadcast, the replay will be available through http://www.caterpillar.com/Irwebcast shortly after the live event.
With 2012 sales and revenues of $65.9 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.