Caterpillar: quarterly dividend maintained at $1.30
April 10, 2024 at 10:02 am EDT
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Caterpillar announced on Wednesday that it would maintain its quarterly dividend of $1.30, payable on May 20 to shareholders of record as of April 22.
In a press release, Caterpillar points out that it has systematically paid an annual dividend to its shareholders since the company's creation, the payment of a quarterly coupon having been introduced in 1933.
The group, which is included in the S&P 500 Dividend Aristocrats index, adds that its annual dividend has always increased over the last 30 years.
The stock was down 1.4% on Wednesday on Wall Street following this announcement.
The stock nevertheless posted an increase of more than 25%, compared with a gain of around 3% for the Dow Jones index, boosted in particular by better-than-expected financial performance.
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Caterpillar Inc. is the world's leading producer of mining construction and operation equipment, diesel and natural gas motors, and industrial gas turbines. Net sales break down by activity as follows:
- sale of machines and motors (94.5%): terracing and construction machines (power shovels, high-lifts, bulldozers, etc.), agricultural and forestry tractors, motors and turbines (for heavy trucks, boats, industrial machines, and power stations), conveyer systems, hydraulic circuits and components, etc.;
- financial services (5.2%) ;
-other (0.6%).
Net sales are distributed geographically as follows: North America (51.6%), Europe/Africa/Middle East (20.4%), Asia/Pacific (18.1%) and Latin America (9.9%).