Caterpillar shareholders can expect a higher dividend this summer.
The company's board of directors raised the quarterly cash dividend by eight cents, a 10 percent raise, to 86 cents a share for common stock. The dividend is payable August 20, 2018.
"Increasing our dividend builds on our long history of dividend growth," said Caterpillar CEO Jim Umpleby. "It also demonstrates our confidence in our strategy to pursue long-term profitable growth to deliver increased value to shareholders."
Caterpillar has paid higher dividends for the last 24 years.