Cummins Inc.: a Dividend Engine

Cummins Inc. Increases Quarterly Common Stock Dividend
Excerpt:

The Board of Directors of Cummins Inc. (CMI) today approved an increase in the Company's quarterly cash dividend on common stock of 25 percent to 97.5 cents per share from 78 cents per share. The dividend is payable on September 1, 2015, to shareholders of record on August 21, 2015. "The increase in our dividend reinforces our commitment to increasing returns to shareholders and reflects our confidence in our performance over the long term," said Tom Linebarger, Chairman and Chief Executive Officer. "As a result of the Company's strong financial position, we are able to increase returns to our shareholders, while continuing to invest in the future and provide our customers with the best products and services that help them succeed."

Comment: Quote. Homepage.  97.5 cents per quarter = $ 3.88 per year for a forward yield of 3%. I used portions of my last two paychecks to buy CMI