Cummins Inc.Continues to Reward Shareholders with Quarterly Dividend Increase
COLUMBUS, Ind.- In a move to boost shareholder confidence, Cummins Inc.(NYSE: CMI) has announced an increase in their quarterly common stock cash dividend by approximately 8.3%, from $1.68 per share to $1.82 per share.This marks the 15th consecutive year that Cummins has increased their dividend to shareholders.
This news comes on the heels of Cummins Inc.’s previous dividend declaration in October 2023, where the company showed a commitment to rewarding shareholders.The increase in earnings per share in the first quarter of 2024 has led to a decrease in the 12 Months dividend pay out ratio to 47.94%, showcasing the company’s strong cash flow.
When compared to its peers in the Consumer Discretionary sector, Cummins Inc.remains competitive, with 14 companies boasting higher 12 Months dividend pay out ratios.The company has also seen an improvement in their ranking among all other companies, moving from 445 in the fourth quarter of 2023 to 482.
Overall, Cummins Inc.continues to demonstrate its commitment to rewarding shareholders and maintaining financial stability.With a solid track record of dividend increases and a strong cash flow, investors can feel confident in the future prospects of the company.
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