(Reuters) – Caterpillar has raised its quarterly dividend by 8% and its share repurchase authorization by $20 billion, the company said on Wednesday, sending its shares up 2% in morning trading.
With the expanded authorization, the company may now repurchase up to $21.8 billion of its common stock.
The company increased its dividend to $1.41 per common share payable in August.
Caterpillar has paid higher annual dividends to shareholders for 30 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Sriraj Kalluvila and Maju Samuel)
