Caterpillar (CAT) will raise its quarterly dividend by 1.3 percent to $0.78 per share. The new dividend is payable August 19, 2017, to shareholders of record at the close of business on July 20, 2017.
"Our improved cost structure, strong balance sheet and solid cash flow make it possible for us to continue our long history of returning value to shareholders through our dividend," said Caterpillar CEO Jim Umpleby.
Caterpillar has paid higher dividends to its shareholders for 23 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.
Caterpillar Inc. is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment.