Caterpillar increases dividend, size of share repurchase program
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- Heavy machinery maker Caterpillar (NYSE:CAT) said on Wednesday that its board has authorized an increase in its quarterly dividend and share repurchase program.
- The board voted to raise the quarterly dividend by 8% to $1.41 per share from $1.30 per share.
- Additionally, the board has added $20B to its current share repurchase program, launched in 2022.
- Caterpillar is expected to repurchase up to $21.8B worth of shares.
- The company said it expects to continue to return substantially all Machinery, Energy & Transportation (ME&T) free cash flow to shareholders over time through dividends and share repurchases.
- Source: Press Release