Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Caterpillar boosts quarterly dividend to 60 cents

[June 13, 2013]  PEORIA (AP) -- Caterpillar says its board has voted to increase the company's quarterly cash dividend by 8 cents to 60 cents.

The dividend will be paid on Aug. 20 to shareholders of record as of July 22.

Caterpillar Inc. Chairman and CEO Doug Oberhelman says the 15 percent increase, along with the company's $1 billion accelerated stock buyback announced in April, support its commitment to boost value for shareholders.

The move marks the Peoria, Ill.-based company's fourth-straight year with a dividend increase.

Its shares fell 30 cents to $83.22 in midday trading as broader market indicators fell.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.