Caterpillar Hikes Dividend, But Sales Decelerate In May; Stock Falls

Caterpillar (CAT) reported that retail sales growth decelerated further in May amid a steep drop-off in its power generation, transportation and industrial segments.

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Over the three months through May, Caterpillar said machinery sales for the construction and resource industries rose 24% from a year ago, continuing their gradual comedown from 28% in April and 34% in January.

Caterpillar's power and transportation division sales have slowed more markedly, rising just 5% from a year ago over...

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