By Sloan T. Wilson, The Chicago Times
June 11, 2022
DEERFIELD, IL – The Board of Directors of Deerfield based Caterpillar Inc. (CAT) approved an increase to the quarterly cash dividend by 9 cents, an 8% increase, to $1.20 per share of common stock, payable August 19, 2022, to shareholders of record at the close of business on July 20, 2022.
“Our dividend increase reflects our strong balance sheet and liquidity position as well as confidence in continued strong free cash flow generation from Machinery, Energy & Transportation (ME&T). We intend to return substantially all ME&T free cash flow to shareholders over time through dividends and share repurchases.” said Caterpillar Chairman and CEO Jim Umpleby
According to CAT, the heavy equipment company has paid a cash dividend every quarter since 1933. For the past 28 years, CAT has paid higher annual dividends to shareholders and is a member of the S&P 500 Dividend Aristocrat Index.