Cummins Board Authorizes To Repurchase Up To $2 Bln Of Shares

(RTTNews) - Cummins Inc. (CMI) said that its board authorized the Company to repurchase up to $2 billion in shares of common stock upon completion of its 2016 $1 billion share repurchase program.

The Board of Directors also declared a quarterly cash dividend on common stock at 1.14 dollars per share, payable on December 3, 2018 to shareholders of record on November 15, 2018.

"The latest share repurchase program and dividend reinforces our commitment to delivering strong returns to shareholders and reflects our confidence in our long-term performance," said Tom Linebarger, Cummins Chairman and Chief Executive Officer.