Construction equipment company Caterpillar ( CAT) said on Wednesday that its board of directors has increased the quarterly cash dividend by 1.3% to 78 cents per share of common stock.
The dividend is payable on August 19 to shareholders of record at the close of business on July 20.
"Our improved cost structure, strong balance sheet, and solid cash flow make it possible for us to continue our long history of returning value to shareholders through our dividend," Caterpillar CEO Jim Umpleby said.
Shares of Caterpillar were lower during midday trading on Wednesday.
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