Caterpillar (CAT) increases dividend by 8.3%, its 29th straight year

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to raise the quarterly dividend by ten cents, an 8% increase, to one dollar and thirty cents ($1.30) per share of common stock, payable August 18, 2023, to shareholders of record at the close of business on July 20, 2023.

“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 Caterpillar 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.”

Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 29 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Index.