Cummins Power’s strength in the market is reflected by the board of directors approving an increase of 25% in the cash dividend paid on the common stock. This will raise it from US$0.50 to US$0.625 payable in September 2013.
“The increase in our dividend, combined with our current share repurchase programme, reflects our confidence in the long-term prospects for the Company and demonstrates our commitment to increasing returns to shareholders,” said Tom Linebarger, Chairman and Chief Executive Officer.
This increases the dividend by a total of 257% over the past four years.
