Caterpillar Inc.

Caterpillar is the world's largest maker of construction and mining equipment, also producing diesel and gas engines, turbines and locomotives. Its yellow machines are a fixture on job sites globally, and a vast dealer network and strong aftermarket parts and service business give it a durable competitive edge across a deeply cyclical end market. Caterpillar has raised its dividend for more than three decades, a record maintained even through commodity and construction downturns, funded by robust cash flow. The current yield is low after strong share-price gains, so the story is one of long, reliable dividend growth from a blue-chip industrial rather than high immediate income.