Summary
Caterpillar Inc. (CAT) filed an 8-K on December 13, 2006, to announce its Board of Directors declared a quarterly cash dividend. The dividend amount remains at $0.30 per share, maintaining the rate from the previous quarter. This dividend is scheduled to be paid on February 20, 2007, to stockholders of record as of January 22, 2007. This announcement reflects positively on Caterpillar's financial performance, as highlighted by CEO Jim Owens. The company noted that the quarterly dividend has increased significantly over the past five and ten years, and the current rate represents a 20 percent increase compared to the dividend paid a year ago. This action underscores Caterpillar's commitment to returning value to shareholders, supported by what the company describes as strong financial performance, double-digit profit growth for four consecutive years, and three consecutive years of record sales and profit.
Key Highlights
- 1Caterpillar's Board of Directors declared a quarterly cash dividend of $0.30 per share.
- 2The dividend payment date is February 20, 2007, with a record date of January 22, 2007.
- 3The declared dividend maintains the same rate as the previous quarter.
- 4The current dividend rate is 20% higher than the dividend paid in the same quarter of the prior year.
- 5The company highlighted a 71% increase in quarterly dividends over the past five years and a tripling over the past 10 years.
- 6CEO Jim Owens stated this reflects the company's strong financial performance and commitment to rewarding stockholders.
- 7Caterpillar expects this to be the fourth consecutive year of double-digit profit growth and the third consecutive year of record sales and profit.