Caterpillar Hikes dividend By 8%

• Caterpillar Inc. (NYSE:CAT) raised the quarterly cash dividend by 8% to $1.20 from $1.11 per share of common stock.
• The new dividend is payable on August 19, 2022, to shareholders of record at the close of business on July 20, 2022.
• "We intend to return substantially all ME&T free cash flow to shareholders over time through dividends and share repurchases," stated Caterpillar Chairman and CEO Jim Umpleby.
• Caterpillar generated an operating cash flow of $313 million in Q1, compared to $1.93 billion a year ago. It held $6.53 billion in cash and equivalents as of March 31, 2022.
• Price Action: CAT shares are trading higher by 1.34% at $230.15 during the market session on Wednesday.
• Photo Via Wikimedia Commons