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A ray so bright, in fact, that Caterpillar has opted to raise its quarterly cash dividend to 60c a share from the 52c it paid in the previous quarter.
“Growing dividends through the business cycle is important and this 15 per cent increase, along with the $1 billion accelerated stock repurchase that we announced in April, support our commitment to deliver superior stockholder returns,” Caterpillar CEO Doug Oberhelman said.
He pointed to the company’s dividend history that stretched back to 1925.
“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,” Oberhelman said.
The dividend will be payable on August 20 to stockholders on the register at the close of business July 22.
