Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Caterpillar Hikes dividend By 8%

  • Caterpillar Inc. (NYSE:CATraised 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
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.