plans to increase its shareholder payout by 20%.
The Peoria, Ill., industrial-machine giant said Wednesday that it will now pay a quarterly dividend of 36 cents a share, up from its prior payout of 30 cents.
This is the third consecutive year that Caterpillar has increased its dividend by at least 20%. The latest dividend is payable Aug. 20 to shareholders of record July 20.
"This increase reflects the Board of Directors' continued confidence in Caterpillar's long-term outlook," said Caterpillar Chairman and Chief Executive Jim Owens in a statement.
Shares of Caterpillar, a
component, recently were up 33 cents, or 0.4%, to $78.41.