Cummins Increases Dividend by 25 Percent; Lowers 2012 Revenue Outlook
The Board of Directors of Cummins Inc. (NYSE: CMI) today approved an increase in the Company's quarterly cash dividend on common stock of 25 percent to 50 cents per share from 40 cents per share.
The dividend is payable on Sept. 1, 2012 to shareholders of record on August 22, 2012.
The Company also lowered its full-year revenue outlook for 2012 and now expects 2012 revenues to be in line with 2011 compared to the Company's previous guidance of an increase of 10 percent. Based on preliminary results, and subject to normal quarterly financial statement closing procedures, second quarter revenues are expected to be approximately $4.45 billion. The Company does not provide quarterly revenue or earnings guidance.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.