Caterpillar Inc. (NYSE:CAT) voted today to raise the quarterly dividend by eleven cents, an 8% increase, to one dollar and forty-one cents ($1.41) per share of common stock, payable August 20, 2024, to shareholders of record at the close of business on July 22, 2024. The Board of Directors also added $20 billion to its current share repurchase authorization, which was launched in 2022 with no expiration date. With the new authorization, Caterpillar Inc. may repurchase up to approximately $21.8 billion of its common stock. Caterpillar expects to continue to return substantially all Machinery, Energy & Transportation (ME&T) free cash flow to shareholders over time through dividends and share repurchases.
Caterpillar Increases Dividend From $1.30 To $1.41 Per Share And Increases Share Repurchase Authorization $20B, Caterpillar May Now Purchase Up To ~$21.8B Of Its Common Stock
Company Profile
Wed. 12 Jun 2024, 10:33am ET
Benzinga
News, Dividends, Buybacks