Caterpillar maintains dividend rate
Published by Rebecca Bowden,
The Board of Directors of Caterpillar Inc has voted to maintain the quarterly cash dividend of US$0.77 per share of common stock, payable 19 November 2016, to stockholders of record at the close of business on 24 October 2016.
"I am proud that we are once again maintaining Caterpillar’s dividend, which extends our track record of paying higher annual dividends to shareholders for 23 consecutive years," said Caterpillar Chairman and CEO Doug Oberhelman. "Our balance sheet remains strong, we’ve taken action to improve our cost structure, and we’re continuing to invest in our products to help improve growth and our competitive position over the long term. We are executing on these elements of our strategy while rewarding our shareholders, even in down cycles, because it's a priority."
Since 2007, the company's cash dividend has more than doubled. Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a quarterly dividend since 1933.
Read the article online at: https://www.worldcement.com/the-americas/13102016/caterpillar-maintains-dividend-rate/
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