Caterpillar Boosts Quarterly Dividend By 8%

Caterpillar Inc CAT said its Board of Directors has voted to raise the quarterly dividend by 8%.

The dividend of $1.30 per share, payable August 18, 2023, to shareholders of record at the close of business on July 20, 2023.

Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.

"We continue to generate strong Machinery, Energy & Transportation (ME&T) free cash flow through execution of our enterprise strategy for long-term profitable growth," said chairman and CEO Jim Umpleby.

"Our strong ME&T free cash flow, balance sheet and liquidity position support our long history of growing the dividend and returning value to shareholders."

For the three months ended March 31, 2023, enterprise operating cash flow was $1.6 billion, and the company ended the first quarter with $6.8 billion of enterprise cash.

Price Action: CAT shares are trading higher by 0.45% at $246.54 on the last check Wednesday.