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Cummins Inc. Increases Dividend by 25 Percent

Author : Date : 2013-7-11 9:29:01
The Board of Directors of Cummins Inc. (NYSE: CMI) today approved an increase in the Company's quarterly cash dividend on common stock of 25 percent to 62.50 cents per share from 50 cents per share.

The dividend is payable on Sept. 3, 2013 to shareholders of record on August 22, 2013.

"The increase in our dividend, combined with our current share repurchase program, reflects our confidence in the long-term prospects for the Company and demonstrates our commitment to increasing returns to shareholders," said Tom Linebarger, Chairman and Chief Executive Officer. "With today's announcement we have increased the dividend by a total of 257% over the last four years, while continuing to invest in products and our global footprint that will drive future profitable growth," continued Linebarger.