Daily Dividend Report: UTX, FAST, CMI, CAT, SIRI, AOS
Wednesday, October 10, 12:45 PM ET

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United Technologies' Board of Directors today declared a dividend of 73.5 cents per share on the outstanding shares of UTC's common stock, which represents a 5 percent increase over the prior quarter's dividend amount. The dividend will be payable December 10, 2018, to shareowners of record at the close of business on November 16, 2018. "The increase in our dividend reflects our ongoing commitment to remain disciplined in our capital allocation and deliver value to shareowners," said Gregory J. Hayes, Chairman and Chief Executive Officer of United Technologies. UTC has paid cash dividends on its common stock every year since 1936.

Fastenal reported its board of directors declared a dividend of $0.40 per share to be paid in cash on November 21, 2018 to shareholders of record at the close of business on October 24, 2018. Fastenal began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011.

On October 9, The Board of Directors of Cummins authorized the Company to repurchase up to $2 billion in shares of common stock upon completion of its 2016 $1 billion share repurchase program. The Board of Directors also declared a quarterly cash dividend on common stock at 1.14 dollars per share, payable on December 3, 2018 to shareholders of record on November 15, 2018.

The board of directors of Caterpillar voted today to maintain the quarterly cash dividend of eighty-six cents ($0.86) per share of common stock, payable November 20, 2018, to shareholders of record at the close of business on October 22, 2018. Upon payment of this dividend, Caterpillar will have paid higher dividends to its shareholders for 25 consecutive years and, since 2009, the company's quarterly cash dividend has more than doubled. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.

SiriusXM today announced that its Board of Directors declared a quarterly cash dividend of $0.0121 per share of common stock, reflecting an increase of 10% over the previous quarter's dividend. This regular quarterly dividend is payable in cash on November 30, 2018 to stockholders of record at the close of business on November 9, 2018.

Directors of A. O. Smith today approved a 22 percent increase in the company's quarterly cash dividend to $.22 per share. This is the second increase in the company's dividend rate in 2018. The dividend increase affects the company's Common Stock and Class A Common Stock. The dividend is payable on November 15 to shareholders of record October 31.

For MarketNewsVideo.com, I'm Sayoko Murase.