The board of directors of Caterpillar Inc. has voted to maintain the quarterly cash dividend of $0.60 per share of common stock, payable Feb. 20, 2014, to stockholders of record at the close of business on Jan. 21, 2014.

"Following the 15-percent increase in our quarterly dividend announced in June and $2 billion in stock repurchase completed this year, this action is another demonstration of how we are taking advantage of our strong balance sheet and cash flow to return capital to stockholders," said Caterpillar chairman and CEO Doug Oberhelman.

Caterpillar has 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 this week, Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.