Caterpillar votes to maintain cash dividend

By WEEK Reporter

Caterpillar votes to maintain cash dividend

April 10, 2013 Updated Apr 10, 2013 at 11:30 AM CDT

PEORIA, Ill. -- The Board of Directors of Caterpillar voted Wednesday to maintain the quarterly cash dividend of $0.52 per share of common stock, payable May 20, 2013, to stockholders of record at the close of business, April 22, 2013.

"We had a record year in 2012 and I am pleased to announce to our stockholders that we are maintaining Caterpillar's quarterly dividend. We are committed to providing value to our stockholders," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.

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

Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a quarterly dividend since 1933.