Caterpillar's (CAT -0.3%) news that it will be raising its quarterly dividend by 15.4% failed to...

|About: Caterpillar Inc. (CAT)|By:, SA News Editor

Caterpillar's (CAT -0.3%) news that it will be raising its quarterly dividend by 15.4% failed to impress shareholders today, ticking lower since the open. The weakness is surprising given the fact that the hike was above last year's 13% increase and the 4.5% bump the year prior. It also moves the dividend yield to an impressive 2.9%, which is above those of its competitors Deere (DE -0.9%) at 2.4%, Cummins (CMI -0.8%) at 1.7% and Joy Global (JOY +0.2%) at 1.3%.