Cummins Inc.’s board approved an increase in the company’s quarterly cash dividend on common stock of 25% to 62.50 cents per share from 50 cents per share.
According to a press release, the dividend is payable on Sept. 3 to shareholders of record on Aug. 22.
“The increase in our dividend, combined with our current share repurchase program, reflects our confidence in the long-term prospects for the company and demonstrates our commitment to increasing returns to shareholders,” said Tom Linebarger, chairman and CEO. “With today’s announcement we have increased the dividend by a total of 257% over the last four years, while continuing to invest in products and our global footprint that will drive future profitable growth.”
For more information about Cummins Inc., visit www.cummins.com.