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9 Oct 2008 07:00
October 8, 2008
Caterpillar contact:
Jim Dugan
Corporate Public Affairs
(309) 494-4100
dugan_jim@cat.com
FOR IMMEDIATE RELEASE
Caterpillar Maintains Dividend Rate- Marks Milestone Achievement of 300 Consecutive Quarters Of Dividend Payments
Caterpillar has paid a dividend each quarter since November 1933
PEORIA, IL - The Board of Directors of Caterpillar Inc. (NYSE: CAT) today declared a quarterly cash dividend of forty-two ($0.42) cents per share of common stock, payable November 20, 2008, to stockholders of record at the close of business October 20, 2008. With this announcement, Caterpillar has completed its 75th year-300 consecutive quarters-of paying dividends to stockholders
"Since paying that first dividend three-quarters of a century ago in the midst of the great depression, Caterpillar has faced many challenging economic circumstances including those facing the global economy today," said Caterpillar Chairman and Chief Executive Officer Jim Owens. "Based on Caterpillar's long-standing and conservative management philosophy, the company weathered those turbulent economic and financial conditions making dividend payments to our stockholders every quarter starting in 1933. Moving forward, Caterpillar is better positioned than ever before to build on this track record as we continue deploying our global business model to create value for our customers while rewarding our stockholders," Owens added.
The $0.42 dividend maintains the dividend rate from the previous quarter and is 17 percent higher than the dividend paid one year ago. Including the announcement today, Caterpillar's cash dividend has nearly tripled since 1998.
About Caterpillar:
For more than 80 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2007 sales and revenues of $44.958 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at http://www.cat.com.
SAFE HARBOR
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of Caterpillar Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "expect," "anticipate" or other similar words and phrases often identify forward-looking statements made on behalf of Caterpillar. It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, changes in economic conditions; currency exchange or interest rates; political stability; market acceptance of the company's products and services; significant changes in the competitive environment; epidemic diseases; changes in law, regulations and tax rates; and other general economic, business and financing conditions and factors described in more detail in the company's Form 10-Q filed with the Securities and Exchange Commission on August 1, 2008. This filing is available on our website at www.cat.com/secfilings. We do not undertake to update our forward-looking statements.
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