Key Developments: Caterpillar Inc (CAT)

CAT on New York Consolidated

80.01USD
28 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Caterpillar Inc Maintains Dividend
Wednesday, 9 Oct 2013 11:53am EDT 

Caterpillar Inc announced that the Board of Directors of Caterpillar Inc. voted to maintain the quarterly cash dividend of $0.60 per share of common stock, payable November 20, 2013 to stockholders of record at the close of business October 21, 2013.  Full Article

Caterpillar Inc Announces $1 Billion Accelerated Stock Repurchase Program
Monday, 29 Jul 2013 09:00am EDT 

Caterpillar Inc announced that it has entered into a definitive agreement with Societe Generale to purchase $1 billion of its common stock under an accelerated stock repurchase transaction. In April of 2013, the company announced a similar $1 billion transaction, which was completed in June of 2013. Pursuant to the accelerated stock repurchase agreement, Caterpillar has agreed to repurchase $1 billion of its common stock from Societe Generale, with an immediate delivery of approximately 11 million shares based on current market prices. The final number of shares to be repurchased and the aggregate cost to Caterpillar will be based on Caterpillar's volume-weighted average stock price during the term of the transaction, which is expected to be completed in September of 2013. In February 2007, the Board of Directors authorized the repurchase of $7.5 billion of Caterpillar stock, and in December 2011, the authorization was extended through December 2015. Through the end of the second quarter of 2013, $4.8 billion of the $7.5 billion authorization was spent.  Full Article

Caterpillar Inc Lowers FY 2013 Guidance
Wednesday, 24 Jul 2013 07:30am EDT 

Caterpillar Inc revised its outlook for fiscal 2013 to reflect sales and revenues in a range of $56 to $58 billion, with profit per share (EPS) of about $6.50 at the middle of the sales and revenues outlook range. The previous outlook for fiscal 2013 sales and revenues was a range of $57 to $61 billion, with profit per share (EPS) of about $7.00 at the middle of the sales and revenues outlook range. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $59 billion and EPS of $6.8 for fiscal 2013.  Full Article

Caterpillar Inc Announces 15% Increase In Dividend Rate
Wednesday, 12 Jun 2013 11:40am EDT 

Caterpillar Inc announced that it has raised the quarterly cash dividend by $0.08 to $0.60 per share of common stock, payable August 20, 2013, to stockholders of record at the close of business, July 22, 2013.  Full Article

Caterpillar Inc And Mining Machinery Limited Announce Settlement Agreement Related To Siwei Acquisition
Thursday, 16 May 2013 07:01pm EDT 

Caterpillar Inc and Mining Machinery Limited announced that they have resolved all outstanding issues between them arising out of Caterpillar's acquisition of ERA, including wholly owned subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing Co., Ltd., commonly known as Siwei. Caterpillar reached this agreement with two former directors of ERA, Emory Williams and John Lee, and two other parties with an interest in the settlement, Mining Machinery Limited and James Thompson III (collectively the MML Parties). As part of the resolution of outstanding issues between the parties, Caterpillar's total outstanding obligations of $164.5 million to the MML Parties, which were part of Caterpillar's obligations relating to acquisition of ERA, were reduced by $135 million to $29.5 million. In addition, Caterpillar and the MML Parties have mutually released all their claims relating to the acquisition of ERA. In addition to entering into the settlement agreement, Caterpillar has agreed that a company affiliated with the MML Parties may purchase from Siwei certain receivables and other assets.  Full Article

Caterpillar Inc Announces $1 Billion Accelerated Stock Repurchase Program
Thursday, 25 Apr 2013 09:00am EDT 

Caterpillar Inc announced it has entered into a definitive agreement with Citibank, N.A. to purchase shares of its common stock under an accelerated stock repurchase program. Pursuant to the accelerated stock repurchase agreement, Caterpillar has agreed to repurchase $1 billion of its common stock from Citi, with an immediate delivery of approximately 11 million shares based on current market prices. The final number of shares to be repurchased and the aggregate cost to Caterpillar will be based on Caterpillar's volume-weighted average stock price during the term of the transaction, which is expected to be completed in June of 2013. In February 2007, the Board of Directors authorized the repurchase of $7.5 billion of Caterpillar stock and in December 2011, the authorization was extended through December 2015. Through the end of 2008, $3.8 billion of the $7.5 billion authorization was spent and no shares of stock have been repurchased since then.  Full Article

Caterpillar Inc Lowers FY 2013 Revenue Guidance; Updates FY 2013 EPS Guidance To A Range Below Analysts' Estimates
Monday, 22 Apr 2013 07:30am EDT 

Caterpillar Inc announced that it has revised its outlook for fiscal 2013 to reflect sales and revenues in a range of $57 to $61 billion, with profit per share (EPS) of about $7.00 at the middle of the sales and revenues outlook range. The previous outlook for fiscal 2013 sales and revenues was a range of $60 to $68 billion and profit per share of $7.00 to $9.00. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $62.6 billion and EPS of $7.6 for fiscal 2013.  Full Article

Caterpillar Inc Maintains Quarterly Dividend
Wednesday, 10 Apr 2013 12:53pm EDT 

Caterpillar Inc announced that its Board of Directors voted to maintain the quarterly cash dividend of $0.52 per share of common stock, payable May 20, 2013, to stockholders of record at the close of business, April 22, 2013.  Full Article

Caterpillar Inc Lays Off 460 Workers-Reuters
Friday, 5 Apr 2013 02:06pm EDT 

Reuters reported that Caterpillar Inc was laying off 460 workers at a U.S. plant that makes mining equipment. The layoffs will affect about 11% of the workforce at the Decatur, Illinois, factory and reflect softening demand from the global mining industry, which is cutting back on capital investment because of a retreat in commodity prices. The job cuts would take effect in 60 days.  Full Article

Caterpillar Inc Plans To Cut 1,400 Jobs In Belgium-Reuters
Thursday, 28 Feb 2013 05:20am EST 

Reuters reported that Caterpillar Inc plans to cut 1,400 jobs at a plant near Charleroi in Belgium, the group's Belgian unit said. The cuts will come at the Gosselies site just outside of Charleroi. The site employs 3,700 people.  Full Article

Nikkei slips from 1-mth high as U.S. earnings disappoint; Sony outperforms

* Sony rises after report it will cut about 1,000 jobs * Komatsu, Hitachi Construction off on Caterpillar earnings By Ayai Tomisawa TOKYO, Jan 28 - Japan's Nikkei share average retreated from a one-month high on Wednesday morning as disappointing U.S. earnings and weak U.S. economic data triggered profit-taking, while Sony Corp outperformed after sources said it will cut about 1,000 jobs. The Nikkei was flat at 17,762.13 in mid-morning trade after opening 0.9 percent l

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