The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable May 20, 2016, to stockholders of record at the close of business on April 25, 2016.
"Caterpillar’s balance sheet remains strong, and I'm pleased to announce we're maintaining our dividend despite continuing difficult marketplace conditions. We've taken actions to further strengthen our competitive position, including lowering our costs and increasing our machine market position for the past five years," said Caterpillar Chairman and CEO Doug Oberhelman. "We remain committed to rewarding stockholders through the cycles."
Caterpillar has paid higher dividends to its stockholders for 22 consecutive years, and since 2007, the company's cash dividend has more than doubled. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.