6/8, 4:19 PM (Source: TeleTrader)
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Caterpillar ups quarterly dividend 8% to $1.20 per share

Caterpillar Inc.'s Board of Directors voted on Wednesday to boost the company's quarterly dividend by nine cents to $1.20 per share, with the figure marking an 8% increase. The amount will be paid on August 19, 2022, "to shareholders of record at the close of business on July 20, 2022."

"Our dividend increase reflects our strong balance sheet and liquidity position as well as confidence in continued strong free cash flow generation from Machinery, Energy & Transportation (ME&T)," Caterpillar CEO Jim Umpleby. He further stated that the company intends to "return substantially all ME&T free cash flow to shareholders over time through dividends and share repurchases."

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