PR Newswire/Les Echos/
Caterpillar Announces 15 Percent Increase in Dividend Rate
PEORIA, Ill., June 12, 2013 -- The Board of Directors of Caterpillar Inc. (NYSE:
CAT) voted today to raise the quarterly cash dividend by eight cents to sixty
cents ($0.60) per share of common stock, payable August 20, 2013, to
stockholders of record at the close of business, July 22, 2013.
"Growing dividends through the business cycle is important, and this 15 percent
increase, along with the $1 billion accelerated stock repurchase that we
announced in April, support our commitment to deliver superior stockholder
returns," said Caterpillar Chairman and CEO Doug Oberhelman.
"Our long dividend history, starting in 1925, is a great reminder of
Caterpillar's enduring role in developing and manufacturing products and
services that helped build the infrastructure of the modern world. We have a
great track record and with our strong balance sheet and financial strength, we
are looking forward to seeing our customers play a role in the continued
development and the improvement of the lives of people around the world for
decades to come," Oberhelman added.
The $0.60 dividend is an increase of 15 percent over the previous rate of $0.52
For more than 85 years, Caterpillar Inc. has been making sustainable progress
possible and driving positive change on every continent. With 2012 sales and
revenues of $65.875 billion, Caterpillar is the world's leading manufacturer of
construction and mining equipment, diesel and natural gas engines, industrial
gas turbines and diesel-electric locomotives.
The company also is a leading services provider through Caterpillar Financial
Services, Caterpillar Remanufacturing Services and Progress Rail Services. More
information is available at: http://www.caterpillar.com.
Forward-Looking Statements Certain statements in this press release relate to
future events and expectations and are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Words such as
"believe," "estimate," "will be," "will," "would," "expect," "anticipate,"
"plan," "project," "intend," "could," "should" or other similar words or
expressions often identify forward-looking statements. All statements other than
statements of historical fact are forward-looking statements, including, without
limitation, statements regarding our outlook, projections, forecasts or trend
descriptions. These statements do not guarantee future performance, and we do
not undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those described or
implied in our forward-looking statements based on a number of factors,
including, but not limited to: (i) global economic conditions and economic
conditions in the industries and markets we serve; (ii) government monetary or
fiscal policies and infrastructure spending; (iii) commodity or component price
increases, fluctuations in demand for our products, or limited availability of
raw materials and component products, including steel; (iv) our and our
customers', dealers' and suppliers' ability to access and manage liquidity; (v)
political and economic risks and instability, including national or
international conflicts and civil unrest; (vi) our and Cat Financial's ability
to: maintain credit ratings, avoid material increases in borrowing costs, and
access capital markets; (vii) the financial condition and credit worthiness of
Cat Financial's customers; (viii) changes in interest rates or market liquidity;
(ix) changes in financial services regulation; (x) inability to realize expected
benefits from acquisitions, including ERA Mining Machinery Limited, and
divestitures, including the divestiture of the Bucyrus International, Inc.
distribution business to our independent dealers; (xi) international trade and
investment policies; (xii) market acceptance of our products and services;
(xiii) changes in the competitive environment, including market share, pricing
and geographic and product mix of sales; (xiv) successful implementation of
capacity expansion projects, cost reduction initiatives and efficiency or
productivity initiatives, including the Caterpillar Production System; (xv)
inventory management decisions and sourcing practices of our dealers or original
equipment manufacturers; (xvi) compliance with environmental laws and
regulations; (xvii) alleged or actual violations of trade or anti-corruption
laws and regulations; (xviii) additional tax expense or exposure; (xix) currency
fluctuations; (xx) our or Cat Financial's compliance with financial covenants;
(xxi) increased pension plan funding obligations; (xxii) union disputes or other
labor matters; (xxiii) significant legal proceedings, claims, lawsuits or
investigations; (xxiv) compliance requirements imposed if carbon emissions
legislation and/or regulations are adopted; (xxv) changes in accounting
standards; (xxvi) failure or breach of information technology security; (xxvii)
adverse effects of natural disasters; and (xxviii) other factors described in
more detail under "Item 1A. Risk Factors" in our Form 10-K filed with the SEC on
February 19, 2013, for the year ended December 31, 2012. This filing is
available on our website at
SOURCE Caterpillar Inc.
CONTACT: Jim Dugan, Global Government & Corporate Affairs, 309-494-4100,
The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.
-0- Jun/13/2013 06:56 GMT
Press spacebar to pause and continue. Press esc to stop.