Caterpillar Raises Dividend Rate 20 Percent
PEORIA, Ill. - The Board of Directors of Caterpillar Inc. (NYSE: CAT) today voted to again increase the quarterly cash dividend by six cents to thirty-six cents ($0.36) per share of common stock, payable August 20, 2007, to stockholders of record at the close of business on July 20, 2007.
“This increase reflects the Board of Directors’ continued confidence in Caterpillar’s long-term outlook,” said Caterpillar Chairman and Chief Executive Officer Jim Owens. “Our broad global reach and business diversity are enabling our continued success, and we’re pleased to reward our stockholders with consistent dividend growth. Team Caterpillar is on track to deliver future success throughout the company by using 6 Sigma to achieve our strategic goals of improved safety, quality, velocity and growth.”
The $0.36 dividend is an increase of 20 percent over the previous rate of $0.30 per share. This is the third consecutive year that Caterpillar has increased its dividend by at least 20 percent. Caterpillar has paid higher dividends in each of the last 14 years.
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