Cat maintain cash dividend of 70 cents a share
- Details
- Published on Wednesday, 10 December 2014 11:32
- Written by Paul Gordon
Caterpillar Inc. will maintain its quarterly cash dividend of 70 cents per share of common stock, the company reported after a vote by its board of directors.
The dividend will be payable Feb. 20, 2015 to shareholders of record at the close of business Jan. 20, 2015, the company said.
"After reporting third-quarter profit improvement, strong cash flow for the first nine months of the year and continued balance sheet strength, I am pleased to announce we are maintaining Caterpillar's dividend," said Chairman and CEO Doug Oberhelman in a news release.
"For the full year, the $1.6 billion of dividends paid and $4.2 billion of stock repurchases make 2014 a record year for return of capital and clearly demonstrate our commitment to deliver superior returns to stockholders," Oberhelman said.
Caterpillar has paid higher dividends to its stockholders for 21 consecutive years and since 1998, the company's cash dividend has more than quadrupled. Including the announcement today, Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933, the company said.
Caterpillar stock had been trading above $100 a share most of the year but has been on a downward trend since Nov. 21, when it was at $106.45 a share. The day before, the company issued its quarterly sales report and showed sales were down globally except in North America.
Stock prices were at $93.80 a share at midday today, down $1.63.
