CAT Caterpillar Inc

   By Colin Kellaher 
 

Caterpillar Inc. (CAT) on Wednesday said its board raised the quarterly dividend by 10%, the same day the heavy machinery maker reported a slowdown in retail sales growth.

Deerfield, Ill.-based Caterpillar said its new quarterly payout is 86 cents, up from 78 cents and more than double its 2009 rate.

Caterpillar earlier Wednesday said worldwide retail sales of machines for the three-month rolling period ending May rose 24%, after rising 28% in the April period and 26% in March period.

Caterpillar said retail sales growth in its energy and transportation sector slowed to 5% in the May period from 14% in the April period and 21% in the three months through March.

Shares of Caterpillar, a component of the Dow Jones Industrial Average, were down 1.34% to $155.38 in midday trading.

Write to Colin Kellaher at colin.kellaher@dowjones.com

(END) Dow Jones Newswires

June 13, 2018 12:15 ET (16:15 GMT)

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