CMI · 10-Q · 2026Q2 · Full report

Capital Return Program

CUMMINS INC · 2026-08-04 · Importance 52 · Surprise 42 · In source text

Cummins repurchased $468 million of common stock, representing 0.8 million shares, during the first half of 2026. The repurchases reduced weighted-average shares and increased diluted second-quarter EPS by $0.01 and first-half diluted EPS by $0.03. In July 2026, the Board authorized a 10% increase in the quarterly dividend from $2.00 to $2.20 per share. The dividend increase raises the declared quarterly cash distribution by $0.20 per share.

Key facts

• In July 2026, the Board authorized an increase to our quarterly dividend of 10 percent from $2.00 per share to $2.20 per share. source
• In December 2021, the Board authorized the acquisition of up to $2.0 billion of additional common stock upon completion of the $2.0 billion repurchase plan authorized in 2019, which was completed in the first quarter of 2026. source
• In July 2026 the Board authorized a 10 percent increase to the quarterly dividend from $2.00 per share to $2.20 per share source
• We intend to repurchase outstanding shares from time to time during 2026 to enhance shareholder value. source
• In the first six months ended June 30, 2026, total share repurchases under our stock repurchase programs were 0.8 (in millions) at an average cost per share of $575.54. source
• In the first half of 2026 Cummins repurchased $468 million, or 0.8 million shares, of common stock source
• We paid dividends of $552 million during the six months ended June 30, 2026. source
• Diluted earnings per common share for the three months ended June 30, 2026 benefited $0.01 from fewer weighted-average shares outstanding due to the stock repurchase program source

Impact estimates