Caterpillar Inc. Chairman and CEO Doug Oberhelman rang the opening bell on Dec. 22, 2014 on the New York Stock Exchange (NYSE) to mark the 85th anniversary of the company’s listing on the NYSE. Of the approximately 3,200 companies listed on the NYSE, Caterpillar is among only 2 percent that have been listed for 85 years or more.
“Not only are we celebrating 85 years on the NYSE this year, but next year we will also celebrate the 90th anniversary of Caterpillar as a company,” Oberhelman said. “Both milestones are a testament to the strength of our global brand, our dedication to customers and strong reputation with stockholders for financial strength and performance through the years. In 2014, the strength of our balance sheet and strong cash flow positioned Caterpillar to repurchase $4.2 billion in stock and to pay $1.6 billion in dividends. Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a quarterly dividend since 1933. We are proud of delivering that consistency and value over the decades.”
Caterpillar is also giving Wall Street traders and New York City the opportunity for an up-close look at Cat machines used in a variety of industries. On display in front of the NYSE are a mixer truck, wheel loader, skid steer loader and backhoe loader.
The company listed on Dec. 2, 1929, under the name Caterpillar Tractor Company. In 1986, the name was changed to Caterpillar Inc. In May 1991, Caterpillar became one of 30 companies in the Dow Jones Industrial Average. Caterpillar sales for 1929 were $52 million and profit was $12 million. An investor buying one share of Caterpillar Tractor Company at $56.25 in 1929 would have an investment worth about $40,000 today, accounting for share price growth, stock splits and dividends over the past 85 years. Caterpillar’s total shareholder return has sustained an annual compounded growth rate of 8 percent since the company listed in 1929. On Dec. 2, 1929, the first listing day, 1,882,240 shares were outstanding and 400 shares of Caterpillar stock were traded. On Dec. 2, 2014, there were more than 605,000,000 shares outstanding and about 4 million shares traded.