BREAKING NEWS

BREAKING NEWS

Caterpillar expects to raise dividend, buy back shares over next four years

Caterpillar expects to raise dividend, buy back shares over next four years
A Caterpillar Inc. equipment is on display for sale at a retail site in San Diego, California, U.S., March 3, 2017. REUTERS/Mike Blake -
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Mike Blake(Reuters)
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(Reuters) - Caterpillar Inc said on Thursday it expects to increase dividend and buy back shares over the next four years, and forecast services revenue to surge in the coming years.

The company expects sales at its machinery, energy and transportation services unit to rise to $28 billion by 2026 from $18 billion in 2018, it said ahead of its investor day.

The company last week raised its full-year profit forecast as it booked a gain in the first quarter related to tax reforms.

(Reporting by Rachit Vats in Bengaluru; Editing by Saumyadeb Chakrabarty)

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