Caterpillar’s (CAT) board of directors has approved an 8% hike in the quarterly dividend, raising the payout to $1.41 per share from $1.30, to boost shareholder value. This reflects a dividend yield of 1.72%, outpacing the industry’s average of 1.59% and the S&P 500’s 1.37%, based on the stock’s closing price of $243.32 on Jun 12, 2024. CAT has also added $20 billion to its existing share repurchase authorization, which was launched in 2022 with no expiration date. This entitles Caterpillar to repurchase up ...