Caterpillar?s (CAT) management and board will be providing investors with important information very soon. There are three areas of particular interest.
1. June 8 annual meeting presentation
At the meeting, Caterpillar management will update its outlook. The comments should address the recent economist forecasts of slower economic growth.
2. Dividend announcement
Typically, the board approves dividend changes just prior to the annual meeting. Last year, It raised the dividend last June by two cents per quarter ? from $0.42 to $0.44 (annual = $1.68 to $1.76). (There was no increase in 2009.) Given Caterpillar?s high earnings growth (actual and projected), we could see a larger increase this year.
Not only will a dividend action change the stock?s yield, it can be taken as a confirmation of management?s and the board?s outlook.
3. Stock split?
Another action that could be taken is a 2:1 stock split. Below is the updated graph
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