Caterpillar (CAT +0.90%) has increased its common stock dividend to $0.60 per share, the company announced Wednesday, to be paid Aug. 20 to shareholders of record as of July 22.
That amount is 15% higher than the firm's previous distribution, which was $0.52 per share handed out last month.
Since 2010, Caterpillar has raised its payout once per year. Over the past decade, that disbursement has ranged from $0.25 per share to the current level.
The new dividend annualizes to $2.40 per share. That yields 2.9% at Caterpillar's most recent closing stock price of $83.21.
