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Caterpillar’s stock raises dividend, to lift implied yield above its peers

“At current stock prices, the new annual dividend rate implies a dividend yield of 2.21%, compared with the SPDR Industrial Select Sector ETF’s XLI, -0.29% yield of 1.76% and the implied yield for the Dow Jones Industrial Average DJIA, +0.02% of 2.09%” writes Reporter Editor for CAT, -1.45% said Wednesday it will increase its quarterly dividend by 10%, to 86 cents a share from 78 cents a share. The stock has gained 1.3% over the past three months, while the industrial ETF has slipped 0.8% and the Dow has gained 1.4%.Caterpillar’s stock was down 1.2% in midday trade, after the heavy machinery maker reported monthly retail sales.The new dividend will be payable Aug. 20 to shareholders of record on July 20.

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