Cummins Dividend Yield Climbs Higher

July 12, 2011   |  Written by: admin

Cummins announced today that the company will increase their quarterly dividend by 52 percent to $.40 per share.

Today’s announcement follows a similar 50% dividend increase from PACCAR yesterday. Last year, Cummins also increased their dividend by 50 percent.

Following the dividend increase, Cummins stock will offer investors a current yield of 1.5 percent based on yesterday’s closing price.

Tim Solso, Cummins Chairman and Chief Executive Officer, commented on the dividend increase, “Cummins had its most profitable year in its history in 2010 and we expect that 2011 will be an even better year. As a result, we are further rewarding our shareholders for their support.”

Cummins was the top dividend stock of 2010 when their shares posted a 140 percent gain. This year the stock has declined 6 percent.

The Cummins dividend will be payable on September 1, 2011 to shareholders of record as of August 22, 2011.

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