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Shares of Caterpillar Inc. (CAT ) plummeted on Tuesday morning after the company reported lower net income, which missed analysts’ expectations.
CAT’s chairman and CEO Doug Oberhelman commented: "Overall, we had many positives and a better year in 2014 than 2013. Our emphasis on cost management, operational execution and cash flow helped us deliver better profit per share than both 2013 and the 2014 outlook we provided at the start of the year.”
CAT will pay its next 70 cent dividend on February 20. The stock went ex-dividend on January 15.