CAT · 10-Q · 2026Q2 · Full report
Capital Return Program
CATERPILLAR INC · 2026-08-05 · Importance 73 · Surprise 50 · In source text
Caterpillar targets returning substantially all MP&E free cash flow to shareholders over time through dividends and share repurchases while maintaining a mid-A credit rating. In June 2026, the board approved an 8% increase in the quarterly dividend to $1.63 per share, and dividends paid totaled $1.399 billion in the first six months of 2026. The company repurchased $6.522 billion of common stock during the first six months, with $8.415 billion remaining under the $20.0 billion 2024 authorization as of June 30, 2026.
Key facts
- In June 2024, the Board approved a share repurchase authorization of up to $20.0 billion of Caterpillar common stock, effective June 12, 2024, with no expiration. source
- In the first six months of 2026, we deployed $6.522 billion of cash for repurchases of Caterpillar common stock. source
- In June 2026, the Board of Directors approved an eight percent increase in the quarterly dividend to $1.63 per share. source
- As of June 30, 2026, $8.415 billion remained available under the 2024 Authorization for share repurchases. source
- Dividends paid totaled $1.399 billion in the first six months of 2026. source
- Our basic shares outstanding as of June 30, 2026 were approximately 460 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -16.6% | In June 2024, the Board approved a share repurchase authorization of up to $20.0 billion of Caterpillar common stock, effective June 12,… |
| cash | negative | committed | -7.0% | As of June 30, 2026, $8.415 billion remained available under the 2024 Authorization for share repurchases. |
| cash | negative | realized | -6.4% | In the first six months of 2026, we deployed $6.522 billion of cash for repurchases of Caterpillar common stock. |
| cash | negative | realized | -1.4% | Dividends paid totaled $1.399 billion in the first six months of 2026. |
| cash | negative | committed | — | In June 2026, the Board of Directors approved an eight percent increase in the quarterly dividend to $1.63 per share. |