Caterpillar maintains dividend rate

The Board of Directors of Caterpillar Inc. voted this week to maintain the quarterly cash dividend of 52 cents per share of common stock, the company announced Wednesday. The dividend will be payable May 20, 2013, to stockholders of record at the close of business, April 22, 2013.

"We had a record year in 2012 and I am pleased to announce to our stockholders that we are maintaining Caterpillar's quarterly dividend. 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," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.

Caterpillar has paid higher dividends to its stockholders for 19 consecutive years, and since 1998, the company's cash dividend has more than tripled. Including the announcement today, Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a quarterly dividend since 1933.

The company, which recently announced it will have some temporary layoffs to bring inventory more in line with demand, will announce its first quarter 2013 financial results on Monday, April 22.

Caterpillar had a profit of $1.586 billion, or $2.37 a share, in the first quarter of 2012. Both were records for the January-March time period.

The company finished 2012 with record sales of $65.875 billion and a record profit of $5.681 billion, or $8.48 a share.