Caterpillar maintains dividend of $0.60

By WEEK Producer

Caterpillar maintains dividend of $0.60

October 9, 2013 Updated Oct 9, 2013 at 1:04 PM CDT

PEORIA, Ill. -- Caterpillar announced Wednesday that the Board of Directors has voted to maintain the quarterly cash dividend of $0.60 per share.

The dividend payable November 20, to stockholders of record at the close of business on October 21.

"This action, following the 15-percent increase in our quarterly dividend announced in June and $2 billion in stock repurchases also completed this year, clearly demonstrates how we are taking advantage of our strong cash position to deliver on our commitments to our stockholders," said Caterpillar Chairman and CEO Doug Oberhelman.

Caterpillar says that with this dividend, Caterpillar will have paid higher dividends to its stockholders for 20 consecutive years, and since 1998, the company's cash dividend has more than tripled.

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