Mining equipment giant Caterpillar Inc has reiterated its commitment to sustainability as it announced its quarterly share dividend, which it has done since 1933
The Board of Directors of Caterpillar Inc voted yesterday (December 12) to maintain the quarterly dividend of one dollar and thirty cents ($1.30) per share of common stock, payable February 20, 2024, to shareholders of record at the close of business on January 22, 2024.
Earlier this year Caterpillar was named in USA Today’s Inaugural List of America’s Climate Leaders 2023. USA Today reviewed companies headquartered in the United States that achieved the greatest reduction in their emissions intensity – Scope 1 and 2 greenhouse gas emissions relative to revenue – between 2019 and 2021.
US-based Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 30 consecutive years and is recognised as a member of the S&P 500 Dividend Aristocrats Index.
With 2022 sales and revenues of $59.4 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
In its quarterly statement the company said: “For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment.”
“Caterpillar has a long-standing commitment to sustainability,” states Chief Sustainability Officer Dr. Lou Balmer-Millar. “As we support our customers in their sustainability journey, we remain focused on reducing greenhouse gas emissions within our own operations. We appreciate this recognition of our progress.”
Caterpillar announced our first sustainability goals in 2006 and refined them in 2013 to include a 50% reduction in Scope 1 and 2 GHG emissions intensity from 2006 to 2020. A 51% reduction was achieved against this goal. In 2021, seven new sustainability goals were established for 2030. Among them is a goal to reduce absolute Scope 1 and 2 GHG emissions by 30% between 2018 and 2030. The 2022 Sustainability Report announced a 33% reduction in Scope 1 and 2 GHG emissions from 2018.
