DEERFIELD — Caterpillar, Inc. shareholders will see an increased quarterly dividend the next time one is paid out in August.
The company's board voted Wednesday to increase the cash dividend by 8 cents, to a total of 86 cents per share of common stock, Caterpillar announced in a news release.
"Increasing our dividend builds on our long history of dividend growth," company CEO Jim Umpleby said in a prepared statement. "It also demonstrates our confidence in our strategy to pursue long-term profitable growth to deliver increased value to shareholders."
The quarterly dividend has more than doubled since 2009, the company said. Such quarterly payouts have been made since 1933, and the company has paid higher dividends for 24 consecutive years, it said.
The dividend is payable on Aug. 20 to all shareholders of record by the close of business on July 20.