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(CAT) - Get Caterpillar Inc. Report

board raised its quarterly dividend by 5 cents to 30 cents a share and said 2006 should be the company's third consecutive year of record results.

The new dividend rate will be paid Aug. 19 to stockholders of record July 20.

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The Peoria, Ill., construction-equipment maker said the announcement "reflects the board of directors' confidence in Caterpillar's long-term outlook."

Factoring in this latest dividend hike, Caterpillar's payout has tripled since 1996. Shares of Caterpillar were up 37 cents, or 0.6%, to $66.70.