The board of Cummins Inc. increased the company's quarterly cash dividend on common stock by 52 percent, to 40 cents a share, from 26.25 cents a share.
The dividend is payable Sept. 1 to shareholders of record on Aug. 22. Cummins last raised its dividend in July of 2010.
“Cummins had its most profitable year in its history in 2010, and we expect that 2011 will be an even better year,” chairman and CEO Tim Solso said in a statement. “As a result, we are further rewarding our shareholders for their support.”