Cat maintains cash dividend rate
- Details
- Published on Wednesday, 09 December 2015 15:59
- Written by Paul Gordon
Caterpillar Inc. will maintain its quarterly cash dividend of 77 cents a share, according to a vote by the company's board of directors on Wednesday.
The dividend will be payable Feb. 20, 2016, to stockholders of record at the close of business on Jan. 20, 2016, the company said in a news release.
"I am pleased to announce we are maintaining Caterpillar's quarterly dividend. Our balance sheet is strong, allowing us to reward stockholders through the cycles. Paying a dividend in times of business and economic uncertainty and throughout business cycles is a priority for use of our cash," said Caterpillar Chairman and CEO Doug Oberhelman.
"We have raised the quarterly dividend 83 percent since 2009, including the 10 percent increase in our quarterly dividend in June. This track record and the $2.0 billion stock repurchase completed in 2015 clearly demonstrate our commitment to stockholders," he said.
Caterpillar has paid higher dividends to its stockholders for 22 consecutive years, and since 2007 the company's cash dividend has more than doubled. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.
