Caterpillar Celebrates 80th Anniversary of New York Stock Exchange Listing; Chairman and CEO Jim Owens to Ring Opening Bell PEORIA, Ill. -- To mark the 80th anniversary of Caterpillar Inc. (NYSE: CAT) being publicly traded on the world's...
Caterpillar Celebrates 80th Anniversary of New York Stock Exchange Listing; Chairman and CEO Jim Owens to Ring Opening Bell
PEORIA, Ill. -- To mark the 80th anniversary of Caterpillar Inc. (NYSE: CAT) being publicly traded on the world's foremost securities marketplace, Chairman and CEO Jim Owens will be ringing the opening bell today on the New York Stock Exchange (NYSE). The NYSE is considered the world's foremost securities marketplace, and Caterpillar is among the two percent of companies that have been listed on the NYSE for more than 80 years.
"For decades, our customers have counted on Caterpillar products to help them achieve success in their businesses," Owens said. "Caterpillar has also forged a strong reputation with stockholders for performance and financial strength in both good times and challenging environments such as those facing the global economy during the last year."
"We have made dividend payments to our stockholders for 305 consecutive quarters, starting in November 1933, and to celebrate 80 years as a listed company on the NYSE is a mark few companies achieve, and it is a tribute to Team Caterpillar," Owens said.
Caterpillar is also giving traders and others in New York the opportunity to get an up- close look at some Caterpillar machines. The company has a display in front of the NYSE that includes a mini hydraulic excavator and a multi terrain loader. Both machines are utilized by Caterpillar customers in a wide range of applications, including urban environments where their smaller size and flexibility makes them ideally suited for construction and other work. The No. 31 Chevrolet driven by Jeff Burton during the 2009 NASCAR Sprint Cup Series season is also part of the display.
A New York Stock Exchange listing is a globally recognized signal of strength and leadership. The NYSE list includes a cross-section of companies who've met the NYSE's stringent requirements including income, market capitalization, cash flow and ethical practices.
Caterpillar Inc. - 80 Years on the New York Stock Exchange
* The company listed on December 2, 1929, under the name Caterpillar Tractor Company. In 1986, it was changed to Caterpillar Inc., and in May 1991, Caterpillar became one of 30 companies in the Dow Jones industrial Average.
* Caterpillar sales for 1929 were $51.8 million and profit was $11.6 million.
* An investor buying one share of Caterpillar Tractor Company at $56.25 in 1929, would have an investment worth $20,320.12* today accounting for the 10 stock splits over the past 80 years. (*As calculated at close Dec. 2, 2009)
* Since Caterpillar listed in 1929, total stockholder return (stock appreciation plus dividends) is more than 36,000 percent.
* Caterpillar's stock has sustained an annual compounded growth rate of 7.63 percent since the company listed in 1929.
* On the first listing day, 1,882,240 shares were outstanding and 400 shares of Caterpillar stock were traded. On December 2, 2009, 624,145,980 shares were outstanding and more than 7.8 million shares traded.