Business
4:05 pm
Wed October 9, 2013

Caterpillar maintains dividend rate for quarter

Caterpillar is maintaining its dividend rate for the quarter. The company’s board of directors voted to maintain the quarterly rate of 60-cents per share of common stock.

 Cat Chairman and CEO Doug Oberhelman says the move follows a 15-percent increase in the dividend rate in June and $2 billion in stock repurchases this year.  Shareholders can collect their dividend November 20th.  It’s being paid out for stockholders of record at the close of business on October 21st.  

The announcement comes as Caterpillar plans for additional layoffs in the Peoria-area this year. The company also issued rolling layoffs in the first half of the year, and reduced its flexible workforce and program costs.