Wednesday, June 9, 2010

Caterpillar (NYSE:CAT) Raises Dividend 4.8 Percent

Caterpillar Inc. (NYSE:CAT) raised its dividend for the 17th year in a row, increasing the payout by 2 cents, or 4.8 percent. That brings the total quarterly cash dividend to $0.44 a share.

The decision by the board of directors of the largest mining and construction equipment maker in the world, as measured by sales, came just ahead of the annual shareholders meeting being held today.

Caterpillar asserts the dividend was added based on their confidence in the business model of the company.

The dividend will be payable to shareholders of record at the close of business, July 20, 2010, and will be paid out on August 20, 2010.

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