This Blue Chip Dividend Aristocrat Just Boosted Its Payout by 8%
Caterpillar (NYSE: CAT) today announced an 8% increase in its dividend, putting to rest investor concern about whether the industrial giant would retain its Dividend Aristocrat status. In fact, the raise has come sooner than expected.
During its first-quarter earnings conference call, management hinted at a potential dividend increase only later this year, even as it chose not to provide any guidance for 2021. Its dividend increase, therefore, should come as a relief for investors.
Caterpillar joined the elite Dividend Aristocrat group in 2018 when it increased its dividend for the 25th straight year. It boosted the payout again in 2019, but investors feared the worst when the blue chip stock suspended share repurchases in April 2020 and maintained its dividend through the year.
Source Fool.com
