By Dean Seal

The board of Caterpillar has increased the company's quarterly dividend by 10 cents, or 8%, to $1.30 a share.

The dividend will be paid out on Aug. 18 to shareholders of record as of the close of trading on July 17.

"We continue to generate strong Machinery, Energy & Transportation (ME&T) free cash flow through execution of our enterprise strategy for long-term profitable growth," Chief Executive Jim Umpleby said. "Our strong ME&T free cash flow, balance sheet and liquidity position support our long history of growing the dividend and returning value to shareholders."

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 14, 2023 10:55 ET (14:55 GMT)

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