9th Jun 2005 07:01
Caterpillar Inc08 June 2005 June 8, 2005FOR IMMEDIATE RELEASE Caterpillar Splits Stock; Increases Dividend Rate Increase marks largest in company history PEORIA, Ill. - In support of its long-term commitment to maximizing stockholdervalue and return, Caterpillar Inc. (NYSE: CAT) today announced a two-for-onestock split and increased the quarterly dividend rate 22 percent from 41 centsto 50 cents per share pre-split. On a split-adjusted basis, the 4.5 cents pershare increase is the largest in the company's 80 year history. The stock split shares will be distributed on July 13 to stockholders of recordat the close of business on June 22, 2005. The company's previously announcedshare repurchase program goal to reduce outstanding shares to 320,000,000 willbe adjusted for the split to reflect an adjusted goal of 640,000,000 sharesoutstanding by October 2008. The new quarterly dividend rate of 25 cents per share of common stock is payableAugust 19, 2005, to stockholders of record at the close of business July 22,2005. The dividend increase is the third in the past two years and the twelfthsince 1993. Including today's announcements, on a split-adjusted basis,Caterpillar has increased its cash dividend more than thirteen-fold since 1993. "Caterpillar continues to deliver remarkable results, and today's announcement reflects the Board of Directors' confidence that we haven'tyet reached our full potential," said Chairman and Chief Executive Officer Jim Owens. "We're aggressively pursuing continuous improvement as we leverage our leadership position, strong cash flow and growth strategies around the world to enhance the value customers and stockholders realize from an investment in Caterpillar." For 80 years, Caterpillar Inc. has been building the world'sinfrastructure and, in partnership with its worldwide dealer network, is drivingpositive and sustainable change on every continent. With 2004 sales and revenuesof $30.25 billion, Caterpillar is a technology leader and the world'sleading manufacturer of construction and mining equipment, diesel and naturalgas engines and industrial gas turbines. More information is available atwww.cat.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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