The Board of Directors of Cummins Inc. (NYSE: CMI) today approved an increase in the company’s quarterly cash dividend on common stock of 15 percent to 1.311 dollars per share from 1.14 dollars per share. The dividend is payable on Sept. 3, to shareholders of record on Aug. 21.
“We have raised our quarterly dividend in each of the last 10 years, resulting in a 649 percent increase since 2009,” said Tom Linebarger, chairman and chief executive officer. “The consistent increase in our dividend, through economic cycles, reflects confidence in our long-term performance and reinforces our commitment to delivering strong returns to shareholders.”
