Caterpillar to Buy Back $7.5 Bln. in Stock Over Five Years
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Diesel engine manufacturer Caterpillar Inc. plans to repurchase $7.5 billion of its stock in the five years, its fourth buyback since 1995, the company said Thursday.
Caterpillar said it had returned $8.5 billion to stockholders through stock repurchases in the past 12 years. It will fund the buyback with cash on hand and will not use debt, Bloomberg reported, citing a company spokesman.Caterpillar said Jan. 26 that fourth-quarter sales increased in China and India, the two fastest growing economies in the world, helping to counter a drop in North American machinery revenue, Bloomberg reported.During the period, Caterpillar posted record operating cash flow of $2.26 billion from everyday operations, according to Bloomberg data.
Diesel engine manufacturer Caterpillar Inc. plans to repurchase $7.5 billion of its stock in the five years, its fourth buyback since 1995, the company said Thursday.
Caterpillar said it had returned $8.5 billion to stockholders through stock repurchases in the past 12 years. It will fund the buyback with cash on hand and will not use debt, Bloomberg reported, citing a company spokesman.Caterpillar said Jan. 26 that fourth-quarter sales increased in China and India, the two fastest growing economies in the world, helping to counter a drop in North American machinery revenue, Bloomberg reported.During the period, Caterpillar posted record operating cash flow of $2.26 billion from everyday operations, according to Bloomberg data.
