Caterpillar Raises Quarterly Dividend by 8.1% to $1.20
08 Juni 2022 - 5:03PM
Dow Jones News
By Colin Kellaher
Caterpillar Inc. on Wednesday said its board raised the
quarterly dividend by 8.1%, to $1.20 from $1.11, marking the 28th
straight year that the heavy-machines maker has boosted its annual
payout.
The new quarterly rate, equal to $4.80 a year, represents an
annual yield of about 2.11% based on Tuesday's closing price of
$227.10, up from 1.96%.
Caterpillar said the dividend increase reflects a strong balance
sheet and liquidity position, as well as its confidence in
continued strong free cash flow generation from its machinery,
energy and transportation segment, adding that it plans to return
substantially all of the segment's free cash flow to shareholders
over time through dividends and stock buybacks.
The increase also maintains Caterpillar's standing in the
S&P 500 Dividend Aristocrats Index, whose members have paid out
a higher dividend annually for at least 25 years.
The Deerfield, Ill., company said the increased dividend is
payable Aug. 19 to shareholders of record July 20.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 08, 2022 10:48 ET (14:48 GMT)
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