New York City, NY, December 22, 2014 – Caterpillar Inc. Chairman and CEO Doug Oberhelman rang the opening bell today on the New York Stock Exchange (NYSE) to mark the 85th anniversary of the company’s listing on the NYSE, considered the world’s foremost securities marketplace. Of the approximately 3,200 companies listed on the NYSE, Caterpillar (NYSE: CAT) is among only 2 percent that have been listed for 85 years or more.
“Not only are we celebrating 85 years on the NYSE this year, but next year we will also celebrate the 90th anniversary of Caterpillar as a company,” Oberhelman said. “Both milestones are a testament to the strength of our global brand, our dedication to customers and strong reputation with stockholders for financial strength and performance through the years. In 2014, the strength of our balance sheet and strong cash flow positioned Caterpillar to repurchase $4.2 billion in stock and to pay $1.6 billion in dividends. Caterpillar has paid a cash dividend every year since the company was formed in 1925 and has paid a quarterly dividend since 1933. We are proud of delivering that consistency and value over the decades.”
Caterpillar is also giving Wall Street traders and New York City the opportunity for an up-close look at Cat® machines used in a variety of industries. On display in front of the NYSE are a mixer truck, wheel loader, skid steer loader and backhoe loader.
Listing on the NYSE is a globally recognized signal of corporate strength and leadership, reserved for companies that meet the NYSE’s stringent requirements for income, market capitalization, cash flow and ethical practice.
Caterpillar Inc. – 85 Years on the New York Stock Exchange
- The company listed on December 2, 1929, under the name Caterpillar Tractor Company. In 1986, the name was changed to Caterpillar Inc.
- In May 1991, Caterpillar became one of 30 companies in the Dow Jones Industrial Average.
- Caterpillar sales for 1929 were $52 million and profit was $12 million.
- An investor buying one share of Caterpillar Tractor Company at $56.25 in 1929 would have an investment worth about $40,000* today, accounting for share price growth, stock splits and dividends over the past 85 years. (*As calculated at close December 2, 2014)
- Caterpillar’s total shareholder return has sustained an annual compounded growth rate of 8 percent since the company listed in 1929.
- On December 2, 1929, the first listing day, 1,882,240 shares were outstanding and 400 shares of Caterpillar stock were traded. On December 2, 2014, there were more than 605,000,000 shares outstanding and about 4 million shares traded.
For nearly 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2013 sales and revenues of $55.656 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments – Resource Industries, Construction Industries and Energy & Transportation – and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.