Cummins, Inc. board of directors has approved an increase in the company’s quarterly cash dividend on common stock.
On Tuesday, the company announced the dividend will increase from 97.5 cents per share to $1.025 per share, payable on Sept. 1 to shareholders of record on Aug. 22.
Cummins earned $1.4 billion on sales of $19.1 billion in 2015. The company designs, manufactures, distributes and services diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems.
The company employs about 55,000 people worldwide and serves customers in about 190 countries and territories through a network of about 600 company-owned and independent distributor locations and about 7,200 dealer locations.
For more information, visit cummins.com.