Caterpillar Maintains Quarterly Cash Dividend

Caterpillar Inc. CAT disclosed, in a press statement, that its board has voted to maintain its quarterly cash dividend of 77 cents a share. According to the company, the dividend would be payable to the stockholders on May 20. The company fixed April 25 as the record date for determining the names of the shareholders to get its dividend. Caterpillar Chairman and CEO, Dough Oberhelman said, "Caterpillar's balance sheet remains strong, and I'm pleased to announce we're maintaining our dividend despite continuing difficult marketplace conditions. We've taken actions to further strengthen our competitive position, including lowering our costs and increasing our machine market position for the past five years". The Chairman continued to say that "We remain committed to rewarding stockholders through the cycles." For 22 straight years, Caterpillar has paid higher dividends to its stockholders, and since 2007, its cash dividend has more than doubled. The company has been paying a cash dividend every year since it was formed and paid a quarterly dividend since 1933. On Wednesday, the stock traded higher by 3.08%.