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Engine maker Cummins Inc. said it is boosting its quarterly dividend 25%, reflecting its “confidence in the long-term prospects for the company.”

The dividend will be raised to 62.5 cents per share, from 50 cents, on Sept. 3 to shareholders of record on Aug. 22, Columbus, Ind.-based Cummins said in a statement.

Cummins has “raised its dividend by a total of 257% over the last four years, while continuing to invest in products and our global footprint that will drive future profitable growth,” Chairman and CEO Tom Linebarger said.