Caterpillar’s board of directors last week voted to raise the quarterly cash dividend by eight cents to $0.60 per share of common stock, payable Aug. 20 to stockholders of record at the close of business, July 22.
"Growing dividends through the business cycle is important, and this 15-percent increase, along with the $1 billion accelerated stock repurchase that we announced in April, support our commitment to deliver superior stockholder returns," said Caterpillar chairman and CEO Doug Oberhelman.
"Our long dividend history, starting in 1925, is a great reminder of Caterpillar's enduring role in developing and manufacturing products and services that helped build the infrastructure of the modern world. We have a great track record and with our strong balance sheet and financial strength, we are looking forward to seeing our customers play a role in the continued development and the improvement of the lives of people around the world for decades to come."
The $0.60 dividend is an increase of 15 percent over the previous rate of $0.52 per share.
Caterpillar Inc. had 2012 sales and revenues of $65.88 billion. It is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
