The board of directors of Caterpillar voted to maintain the quarterly cash dividend of $0.60 per share of common stock, payable Nov. 20, 2013, to stockholders of record at the close of business on Oct. 21, 2013.
“I am pleased to announce we are maintaining Caterpillar’s dividend due to the continued strength of our balance sheet and strong cash flow, which has placed us in a good position to reaffirm our long-standing commitment to stockholders,” said Caterpillar Chairman and CEO Doug Oberhelman. “This action, following the 15-percent increase in our quarterly dividend announced in June and $2 billion in stock repurchases also completed this year, clearly demonstrates how we are taking advantage of our strong cash position to deliver on our commitments to our stockholders.”
With this dividend, Caterpillar will have paid higher dividends to its stockholders for 20 consecutive years, and since 1998, the company’s cash dividend has more than tripled. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.