PEORIA, Illinois, October 12, 2016 /PRNewswire/ --
The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted
today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable
November 19, 2016, to stockholders of
record at the close of business on October
24, 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.
About Caterpillar
For 91 years, Caterpillar Inc. has been making sustainable progress
possible and driving positive change on every continent. Customers
turn to Caterpillar to help them develop infrastructure, energy and
natural resource assets. With 2015 sales and revenues of
$47.011 billion, Caterpillar is the
world's leading 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. For more information, visit caterpillar.com. To
connect with us on social media, visit
caterpillar.com/social-media.
Forward-looking Statements
Certain statements in this press release relate to future events
and expectations and are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "believe," "estimate," "will be," "will," "would,"
"expect," "anticipate," "plan," "project," "intend," "could,"
"should" or other similar words or expressions often identify
forward-looking statements. All statements other than statements of
historical fact are forward-looking statements, including, without
limitation, statements regarding our outlook, projections,
forecasts or trend descriptions. These statements do not guarantee
future performance, and we do not undertake to update our
forward-looking statements.
Caterpillar's actual results may differ materially from those
described or implied in our forward-looking statements based on a
number of factors, including, but not limited to: (i) global and
regional economic conditions and economic conditions in the
industries we serve; (ii) government monetary or fiscal policies
and infrastructure spending; (iii) commodity price changes,
component price increases, fluctuations in demand for our products
or significant shortages of component products; (iv) disruptions or
volatility in global financial markets limiting our sources of
liquidity or the liquidity of our customers, dealers and suppliers;
(v) political and economic risks, commercial instability and events
beyond our control in the countries in which we operate; (vi)
failure to maintain our credit ratings and potential resulting
increases to our cost of borrowing and adverse effects on our cost
of funds, liquidity, competitive position and access to capital
markets; (vii) our Financial Products segment's risks associated
with the financial services industry; (viii) changes in interest
rates or market liquidity conditions; (ix) an increase in
delinquencies, repossessions or net losses of Cat Financial's
customers; (x) new regulations or changes in financial services
regulations; (xi) a failure to realize, or a delay in realizing,
all of the anticipated benefits of our acquisitions, joint ventures
or divestitures; (xii) international trade policies and their
impact on demand for our products and our competitive position;
(xiii) our ability to develop, produce and market quality products
that meet our customers' needs; (xiv) the impact of the highly
competitive environment in which we operate on our sales and
pricing; (xv) failure to realize all of the anticipated
benefits from initiatives to increase our productivity,
efficiency and cash flow and to reduce costs; (xvi) additional
restructuring costs or a failure to realize anticipated savings or
benefits from past or future cost reduction actions; (xvii)
inventory management decisions and sourcing practices of our
dealers and our OEM customers; (xviii) compliance with
environmental laws and regulations; (xix) alleged or actual
violations of trade or anti-corruption laws and regulations; (xx)
additional tax expense or exposure; (xxi) currency fluctuations;
(xxii) our or Cat Financial's compliance with financial covenants;
(xxiii) increased pension plan funding obligations; (xxiv) union
disputes or other employee relations issues; (xxv) significant
legal proceedings, claims, lawsuits or government investigations;
(xxvi) changes in accounting standards; (xxvii) failure or breach
of IT security; (xxviii) adverse effects of unexpected events
including natural disasters; and (xxix) other factors described in
more detail under "Item 1A. Risk Factors" in our Form 10-K filed
with the SEC on February 16, 2016 for
the year ended December 31, 2015.
CONTACT: Rachel Potts, Global
Government & Corporate Affairs, +1-309-675-6892,
+1-309-573-3444, Potts_Rachel_A@cat.com
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