Caterpillar Boosts Quarterly Dividend By 10 Percent

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Caterpillar Inc.CAT
announced
on Wednesday it will boost its regularly scheduled quarterly dividend rate by 10 percent from $0.70 per share to $0.77. The new dividend is payable on August 20 to shareholder of record at the close on July 20. Wednesday's dividend hike announcement is consistent with the company's cash deployment priorities which consists of maintaining financial strength, funding growth, appropriate funding pension/benefit plans, paying dividends and repurchasing stock. Since the beginning of 2013, Caterpillar has returned more than $10 billion in capital to its shareholders through dividend payments and stock repurchases. "This 10 percent dividend increase is another example of our commitment to deliver superior returns to stockholders through the ups and downs of the industries we serve," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman in the press release. "Our strong balance sheet, cash flow and operational performance have put us in a position to reward stockholders with a higher dividend again this year." Caterpillar has a long standing commitment to shareholders dating back 90 years. In fact, the company has paid a cash dividend to shareholders every single year since the company was formed in 1925. A quarterly dividend has been consistently paid out since 1933. The company also noted that its $0.77 per share quarterly dividend is more than double what was paid to investors in 2006. The dividend announcement comes just a few weeks after a
Longbow Research reportJoy Global Inc. JOY The analyst also noted that 2015 forecasts for both companies are also at risk.
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Posted In: NewsCaterpillardividendsDoug OberhelmanEli LustgartenLongbow Researchmining equipment
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