UPDATE 3-Caterpillar gives details on services push, hikes dividend

Caterpillar Inc on Thursday provided investors with details on its push to grow its services business while also laying out dividend increases and more consistent share repurchases in the coming years. Deerfield, Illinois-based Caterpillar's main customers are in businesses like mining and construction, which are prone to wide swings with the business cycle. "Services will help dampen the impact of cycles, but we will never be immune from the cycle,” Chief Executive Jim Umpleby said at an investor meeting at a Caterpillar equipment factory in Clayton, North Carolina.

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