COLOMB, Ind .– (COMMERCIAL THREAD) – The board of directors of Cummins Inc. (NYSE: CMI) today approved an increase in the company’s quarterly cash dividend on common stock by 7% to $ 1.45 per share, from $ 1.45 per share. $ 35 per share. The dividend is payable on September 2, 2021 to shareholders of record on August 20, 2021.
âThis marks our 12e consecutive year of increasing our dividend, demonstrating a consistent trend to return capital to shareholders while continuing to invest in our future, âsaid Tom Linebarger, President and CEO of Cummins Inc.
About Cummins Inc.
Cummins Inc., a global energy leader, is a complementary business segments company that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain related components, including filtration, aftertreatment, turbochargers, fuel systems, control systems, air handling systems, automated transmissions, power generation systems, batteries, electrified power systems, hydrogen production products and fuel cells. Based in Columbus, Indiana (USA), since its founding in 1919, Cummins employs approximately 57,825 people committed to propelling a more prosperous world through three global corporate responsibility priorities essential to healthy communities: education, the environment and equal opportunities. Cummins serves customers online, through a network of company-owned and independent outlets, and through thousands of outlets worldwide and has earned approximately $ 1.8 billion on sales of 19.8 billion dollars in 2020. To learn more about Cummins, visit cummins.com.
The information provided in this press release which is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning our forecasts, our orientations, our preliminary results, our expectations, our hopes, our beliefs and intentions about strategies for the future. These forward-looking statements include, without limitation, statements relating to our revenue and EBITDA plans and expectations. Our actual future results could differ materially from those projected in these forward-looking statements due to a number of factors, including, but not limited to: any adverse results of our internal review of our emissions certification process and compliance with emission standards; increased oversight by regulators, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; policy changes in international trade; the United Kingdom’s exit from the European Union; changes in taxation; global legal and ethical compliance costs and risks; increasingly stringent environmental laws and regulations; future bans or limitations on the use of diesel powered products; supply shortages and the financial risk of suppliers, in particular of any of our single-source suppliers, including suppliers potentially affected by the COVID-19 pandemic; market downturn due to the impacts of the COVID-19 pandemic, other public health crises, epidemics or pandemics; the impacts on manufacturing and supply chain capabilities of an extended shutdown or disruption of our operations due to the COVID-19 pandemic; align our capacity and production with our demand, including the impacts of COVID-19; large truck manufacturers and OEM customers ceasing to outsource their engine supply needs or experiencing financial difficulties, particularly related to the COVID-19 pandemic, bankruptcy or a change of control; a slowdown in infrastructure development and / or a drop in commodity prices; failure to achieve the expected results of our investment in the Eaton Cummins Automated Transmission Technologies joint venture; shares and income of joint ventures and other owned businesses that we do not directly control; Product recalls; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; variability in the costs of materials and commodities; product liability claims; our range of sales products; the protection and validity of our patents and other intellectual property rights; disruptions in global credit and capital markets following the COVID-19 pandemic; labor relations or work stoppages; reliance on our management team and other key personnel; climate change and global warming; our plan to reposition our portfolio of product offerings by exploring strategic acquisitions and disposals and the uncertainties associated with the conclusion of such transactions; exposure to potential security breaches or other disruption to our IT systems and data security; political, economic and other risks associated with operations in many countries; concurrent activity; increased competition, including increased global competition between our customers in emerging markets; foreign currency exchange rate changes; the performance of our pension plan assets and the volatility of discount rates, particularly those related to the sustained downturn in the global economy due to the COVID-19 pandemic; the price and availability of energy; the outcome of current and future litigation and government proceedings; the continued availability of funding, financial instruments and financial resources in the amounts, times and conditions necessary to support our future activities; and other risks detailed from time to time in our filings with the SEC, including in the Risk Factors section of our 2020 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to carefully consider these factors when evaluating forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained herein are made only as of the date of this press release and we do not undertake to publicly update any forward-looking statements, whether as a result of new information, future events or other. More detailed information on factors that may affect our performance can be found in our SEC filings, which are available at http://www.sec.gov or to http://www.cummins.com in the Investor Relations section of our website.