June 8, 2022
FOR IMMEDIATE RELEASE
DEERFIELD, Ill. – The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to raise the quarterly cash dividend by nine cents, an 8% increase, to one dollar and twenty cents ($1.20) per share of common stock, payable 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),” said Caterpillar Chairman and CEO Jim Umpleby. “We intend to return substantially all ME&T free cash flow to shareholders over time through dividends and share repurchases.”
Since the company was formed, Caterpillar has paid a cash dividend every year and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 28 consecutive years and is a member of the S&P 500 Dividend Aristocrat Index.
With 2021 sales and revenues of $51.0 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/social-media.