Caterpillar maintains cash dividend

By WEEK Producer

Caterpillar maintains cash dividend

December 11, 2013 Updated Dec 11, 2013 at 11:20 AM CDT

PEORIA, Ill. -- The Board of Directors of Caterpillar voted Wednesday to maintain the quarterly cash dividend of sixty cents per share of common stock, payable February 20 to stockholders of record at the close of business on January 21.

"Following the 15-percent increase in our quarterly dividend announced in June and $2 billion in stock repurchase completed this year, this action is another demonstration of how we are taking advantage of our strong balance sheet and cash flow to return capital to stockholders," said Caterpillar Chairman and CEO Doug Oberhelman.

Caterpillar says that including the announcement today, the company has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.