Reported about 1 year ago
Caterpillar has increased its share repurchase authorization by $20 billion and quarterly dividend by 8%, aiming to repurchase up to $21.8 billion of its common stock, continuing its tradition of returning free cash flow to shareholders through dividends and buybacks. The company has a 30-year track record of higher annual dividends and is part of the S&P 500 Dividend Aristocrats Index, recently raising its dividend to $1.41 per common share. Caterpillar's shares rose 2% following the announcement, amidst a 12% gain this year due to increased infrastructure spending. However, challenges remain with a predicted sales drop in the current quarter due to inventory constraints and slowdowns outside North America.
Source: YAHOO