Caterpillar Inc. Increases Dividend

Rhea-AI Summary

Caterpillar Inc. raises quarterly dividend by 8% to $1.30 per share of common stock. The company has a strong cash flow and balance sheet, supporting its history of growing dividends and returning value to shareholders.

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• Caterpillar raises quarterly dividend by 8% to $1.30 per share of common stock

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IRVING, Texas, June 14, 2023 /PRNewswire/ -- The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to raise the quarterly dividend by ten cents, an 8% increase, to one dollar and thirty cents ($1.30) per share of common stock, payable August 18, 2023, to shareholders of record at the close of business on July 20, 2023.

"We continue to generate strong Machinery, Energy & Transportation (ME&T) free cash flow through execution of our enterprise strategy for long-term profitable growth," said Caterpillar Chairman and CEO Jim Umpleby. "Our strong ME&T free cash flow, balance sheet and liquidity position support our long history of growing the dividend and returning value to shareholders."

Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 29 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Index.

About Caterpillar
With 2022 sales and revenues of $59.4 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/socialmedia.html.

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SOURCE Caterpillar Inc.

FAQ

What is the new quarterly dividend amount for Caterpillar Inc.?

The new quarterly dividend amount for Caterpillar Inc. is $1.30 per share of common stock.

How long has Caterpillar Inc. been paying dividends?

Caterpillar Inc. has been paying dividends every year since the company was formed and has been paying a quarterly dividend since 1933.

Is Caterpillar Inc. part of the S&P 500 Dividend Aristocrats Index?

Yes, Caterpillar Inc. is recognized as a member of the S&P 500 Dividend Aristocrats Index.