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Caterpillar to continue dividend at current rate

The Caterpillar board of directors voted to maintain the quarterly cash dividend of 44 cents per share of common stock, payable Nov. 20 to stockholders of record at the close of business on Oct. 25.

"We remain focused on improving our cash flow, strengthening our balance sheet and providing solid returns that reward stockholders," company chairman Jim Owens said in a statement. "For 17 years in a row, Caterpillar has paid higher dividends to its stockholders, and since 1998 our cash dividend has more than tripled, which underscores the company's performance through a wide range of economic cycles."

The 44-cent dividend maintains the dividend rate from the previous quarter.

Caterpillar said it has paid a cash dividend every year since the company was formed in 1925.

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