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Caterpillar maintains dividend rate

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Caterpillar maintains dividend rate

Caterpillar Inc. directors voted Wednesday to maintain its quarterly cash dividend at 46 cents a share — the 312th consecutive quarter the company has paid a dividend.

This dividend if payable Nov. 19 to holders of common stock at the close of business on Oct. 24, the company said in a news release.

"I'm thrilled to note that with this announcement, Caterpillar has paid dividends to stockholders every year since 1925 and paid dividends for 312 consecutive quarters — every quarter since 1933, demonstrating that Caterpillar is an attractive investment over the long-run," said Caterpillar Chairman and CEO Doug Oberhelman in the news release.

"More recently, for 18 years in a row, Caterpillar has paid higher dividends to its stockholders, and since 1998, the company's cash dividend has more than tripled. That track record is a testament to our products, business model, strategy, dedicated employees and the unmatched support that Caterpillar and its dealers provide to our customers," Oberhelman added.

Caterpillar will announce its third-quarter financial results at 6:30 a.m. on Monday, Oct. 24.

Through the first half of 2011 Caterpillar had a profit of $2.24 billion compared with $940 million through the first six months of 2010. The company reported sales and revenues in the first six months were $25.8 billion, affirming its goal of getting annual sales and revenues back above $50 billion. Sales and revenues were $42.6 billion in 2010.

 

About the Author
Paul Gordon is the editor of The Peorian after spending 29 years of indentured servitude at the Peoria Journal Star. He’s an award-winning writer, raconteur and song-and-dance man. He also went to a high school whose team name is the Alices (that’s Vincennes Lincoln High School in Indiana; you can look it up).