Cummins Inc., a leading global power solutions provider, has recently made an exciting announcement for its shareholders. The Board of Directors has approved a significant increase in the company's quarterly common stock cash dividend. This move showcases Cummins' commitment to delivering value to its shareholders and reinforces its strong financial position. Read on to learn more about this dividend increase and its implications.

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Dividend Increase Details

Cummins Inc. has decided to raise its quarterly common stock cash dividend by approximately 7 percent. The dividend will now be 1.68 dollars per share, up from the previous amount of 1.57 dollars per share. This increase highlights the company's confidence in its ability to generate consistent and sustainable earnings, allowing it to reward its shareholders.

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Record Date and Payment Schedule

Shareholders of Cummins Inc. who are on record as of August 25, 2023, will be eligible to receive the increased dividend. The dividend will be payable on September 7, 2023, ensuring that shareholders can look forward to enjoying the enhanced cash returns in the near future.

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Consistent Dividend Growth

Cummins Inc. takes pride in its commitment to returning value to its shareholders. With this recent dividend increase, the company has continued its streak of raising the quarterly common stock dividend for 14 consecutive years. This track record is a testament to Cummins' strong financial performance and its ability to generate long-term sustainable growth.

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Implications for Shareholders

The dividend increase is great news for Cummins' shareholders. It not only demonstrates the company's confidence in its future prospects but also provides shareholders with a higher return on their investment. By increasing the dividend, Cummins is effectively sharing its success with those who have invested in the company, further aligning the interests of shareholders and management.