Caterpillar Hikes dividend By 8%

Caterpillar Inc. CAT raised the quarterly cash dividend by 8% to $1.20 from $1.11 per share of common stock.
The new dividend is payable on August 19, 2022, to shareholders of record at the close of business on July 20, 2022.
"We intend to return substantially all ME&T free cash flow to shareholders over time through dividends and share repurchases," stated Caterpillar Chairman and CEO Jim Umpleby.
Caterpillar generated an operating cash flow of $313 million in Q1, compared to $1.93 billion a year ago. It held $6.53 billion in cash and equivalents as of March 31, 2022.
Price Action: CAT shares are trading higher by 1.34% at $230.15 during the market session on Wednesday.
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