Caterpillar maintains quarterly cash dividend to stockholders

By WEEK Producer

Caterpillar maintains quarterly cash dividend to stockholders

December 12, 2012 Updated Dec 12, 2012 at 12:24 PM CDT

PEORIA, Ill. -- The Board of Directors of Caterpillar voted Wednesday to maintain the quarterly cash dividend of 52 cents per share of common stock.

That money will be payable to stockholders on December 31, 2012.

Despite a record quarter, Caterpillar Chairman and CEO Doug Oberhelman says the company will continue to remain watchful to the current political and economic landscape.

"In addition to maintaining the quarterly dividend, we're accelerating payment of the first-quarter 2013 dividend to December 31, 2012," said Caterpillar Chairman and CEO Doug Oberhelman.  "Because of the uncertainty about U.S. tax policy, we're acting in the interest of our stockholders. We estimate this action could save our stockholders around $30 million," added Oberhelman.

Caterpillar has paid higher dividends to its stockholders for 19 consecutive years, and since 1998, the company's cash dividend has more than tripled.

Including the announcement on Wednesday, Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a quarterly dividend since 1933.