(CercleFinance.com) – Caterpillar recorded one of the biggest increases in the Dow Jones index on Wednesday on the New York Stock Exchange following the announcement of an increase in its dividend and its share buybacks.
The American construction equipment manufacturer says it plans to increase its quarterly dividend by 11 cents to $1.41, an increase of 8%.
The Irving (Texas)-based group explains that it also intends to add some $20 billion to its authorization for current share repurchases, bringing the total envelope devoted to securities acquisitions to approximately $21.8 billion. on the market.
The stock, up almost 40% over one year, is currently gaining 1.5%, marking the fourth largest increase in the Dow index.
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