CAT · 10-Q · 2026Q3 · Full report

Capital Return Program

CATERPILLAR INC · 2026-11-04 · Importance 44 · Surprise 24 · Contradicted

Caterpillar’s goal is to return substantially all Machinery, Power & Energy free cash flow to shareholders over time through dividends and share repurchases while maintaining a mid-A credit rating. In October 2026, the Board approved maintaining the quarterly dividend at $1.63 per share; dividends paid totaled $2.148 billion in the first nine months of 2026. Under the $20.0 billion share repurchase authorization approved in June 2024, the company repurchased $7.745 billion of common stock in the first nine months of 2026, with $7.192 billion remaining available as of September 30, 2026.

Key facts

• In October 2026, Caterpillar's Board approved maintaining a quarterly dividend representing $1.63 per share; dividends paid totaled $2.148 billion in the first nine months of 2026. source
• In June 2024, Caterpillar's Board approved a share repurchase authorization of up to $20.0 billion, effective June 12, 2024, with no expiration. source
• Caterpillar repurchased $7.745 billion of common stock in the first nine months of 2026; $7.192 billion remained available under the authorization as of September 30, 2026. source
• Caterpillar's goal is to return substantially all MP&E free cash flow to shareholders over time through dividends and share repurchases while maintaining its mid-A rating. source
• Caterpillar had approximately 458 million basic shares outstanding as of September 30, 2026. source

Impact estimates