This, the first payment of 2013, matches the distribution of the preceding three quarters.

Since mid-2005, its distribution has climbed steadily from 25c per share to today's 52c.

“We had a record year in 2012 and I am pleased to announce to our stockholders that we are maintaining Caterpillar’s quarterly dividend,” Caterpillar chairman and chief executive officer Doug Oberhelman said.

“While we're encouraged by some recent improvements in economic indicators, there are still uncertainties in the world and the company is ready for any circumstances.

“The balance sheet is strong and dividend payments are a good way to reward long-term investors in the company.

“We are committed to providing value to our stockholders.”

Cat expects to announce its 2013 first quarter results on April 22.

Analysts and the company are both forecasting significantly lower sales than the previous corresponding period as well as the fourth quarter of last year, with dealers anticipated to continue lowering their new machine inventories.

In a series of inventory cuts and lay-offs for the company, the past month has seen Cat announce a temporary staff cutback of 300 at its South Milwaukee facility and the permanent furloughing of 460 workers at its Decatur plant in Illinois.

Combined with sluggish industry sales, the slowing of Chinese growth and economic turmoil in Europe, Caterpillar is expected to report its second consecutive fall in quarterly profit, the first time it has happened since 2009.

In other news, former Caterpillar CEO George Schaefer has died at the age of 84.

During his time as CEO, Schaefer led the company from a period of losses to record profits and is renowned for removing “Tractor” from the company’s name.

He died yesterday in Peoria, Illinois, where Caterpillar is based.