Cat maintains cash dividend in Q3

Caterpillar Inc. announced Wednesday it will maintain its quarterly cash dividend of 77 cents a share.

The company’s Board of Directors voted to maintain the dividend and make it payable Nov. 19 to stockholders of record at the close of business on Oct. 24.

"I am proud that we are once again maintaining Caterpillar's dividend, which extends our track record of paying higher annual dividends to shareholders for 23 consecutive years," said Caterpillar Chairman and CEO Doug Oberhelman.

"Our balance sheet remains strong, we've taken action to improve our cost structure, and we're continuing to invest in our products to help improve growth and our competitive position over the long term. We are executing on these elements of our strategy while rewarding our shareholders, even in down cycles, because it's a priority," Oberhelman said.

Since 2007, the company's cash dividend has more than doubled. Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a quarterly dividend since 1933, the company said.

Caterpillar will announce its third quarter earnings on Tuesday, Oct. 25.

Caterpillar stock closed Wednesday at $87.58 a share, up 11 cents.

About the Author

Paul Gordon is the editor of The Peorian after spending 29 years of indentured servitude at the Peoria Journal Star. He’s an award-winning writer, raconteur and song-and-dance man. He also went to a high school whose team name is the Alices (that’s Vincennes Lincoln High School in Indiana; you can look it up).