Caterpillar is the world's largest maker of construction and mining equipment, its yellow machines a fixture on job sites everywhere. Sales flow through an independent dealer network whose parts and service operations keep customers loyal long after the initial purchase, and a financing arm smooths the buying of million-dollar machines. Demand rides construction cycles, commodity prices and infrastructure spending. Founded in 1925 from a merger of tractor pioneers, Caterpillar has paid a dividend through every economic environment since.