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Cummins Raises Quarterly Dividend 52%

DOW JONES NEWSWIRES Cummins Inc. (CMI) increased its dividend 52%, adding the maker of truck engines and power-generation systems to the trend of companies rewarding shareholders by tapping into cash piles. The company, which had about 196.2 million shares outstanding at March 27, raised its quarterly payout to 40 cents a share from 26.25 cents, an additional expense of about $27 million a quarter. "Cummins had its most profitable year in its history in 2010 and we expect that 2011 will be an even better year," said Chairman and Chief Executive Tim Solso. "As a result, we are further rewarding our shareholders for their support." The company reported in April its first-quarter profit more than doubled on strength in key international markets and a recovery in the North American truck market. Shares recently rose 1.1% to $104.75 in premarket trading. The stock has gained 47% over the past 52 weeks, through Monday's close. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Cummins (CMI)
DateTimeHeadline
08/24/201614:43:53Statement of Changes in Beneficial Ownership (4)
08/16/201615:30:00Cummins Ready to Deliver Fuel Savings and Greenhouse Gas Reductions...
08/12/201616:28:07Statement of Changes in Beneficial Ownership (4)
08/12/201616:27:39Statement of Changes in Beneficial Ownership (4)
08/10/201611:01:00Cummins & ATA Celebrate the Truck Driving Championships in Indianapolis...
08/08/201615:20:32Statement of Changes in Beneficial Ownership (4)
08/08/201615:20:32Statement of Changes in Beneficial Ownership (4)
08/08/201615:20:04Statement of Changes in Beneficial Ownership (4)
08/08/201615:20:04Statement of Changes in Beneficial Ownership (4)
08/03/201614:40:00Heavy-Duty Truck Order Slump Deepens
08/02/201613:17:09Quarterly Report (10-q)
08/02/201610:00:00Cummins Cuts Revenue Forecast on Weak Market Outlook
08/02/201609:52:00Cummins Cuts Revenue Forecast on Weak Market Outlook
08/02/201607:42:20Current Report Filing (8-k)
08/02/201607:30:00Cummins Announces Second Quarter 2016 Results
07/27/201616:35:27Statement of Changes in Beneficial Ownership (4)
07/27/201616:34:35Statement of Changes in Beneficial Ownership (4)
07/26/201612:14:06Current Report Filing (8-k)
07/21/201609:21:35Initial Statement of Beneficial Ownership (3)
07/20/201608:40:00Diversified Machinery Stocks in Motion -- Cummins, Ocean Power...

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