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Caterpillar (CAT) Maintains Dividend Despite "Worst Economic Crisis Since the Great Depression"
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Caterpillar Inc. (NYSE: CAT) declared a quarterly cash dividend of $0.42 cents per share of common stock, which was maintained from the previous quarter.
CEO Jim Owens said, "It is a tribute to Caterpillar's strategic 'trough' planning and financial strength that we are maintaining the dividend rate in the face of the worst economic crisis since the Great Depression."
The dividend is payable August 20, 2009, to stockholders of record at the close of business July 20, 2009. The ex-dividend date is July 16.
Caterpillar has paid a cash dividend every year since the company was formed in 1925 and its cash dividend has nearly tripled since 1998.
The dividend yield on Caterpillar is 4.5%.
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