Caterpillar (CAT) has a current dividend yield of 2.21% and is rated as “Very Safe” by SimplySafeDividends. I hold CAT in my Low Yield Portfolio. In total CAT is 0.9% of my portfolio.

Caterpillar said Friday that it continues to have trouble obtaining enough electronics, semiconductors and other parts to make hydraulic shovels and asphalt pavers. The company’s backlog for the quarter ended Dec. 31 increased more than 60% from the year before, to around $23 billion.

“Demand is strong but the ability of us to meet that demand is dependent on the unwinding of some of the supply-chain challenges,” said Andrew Bonfield, Caterpillar’s chief financial officer. “The key for us is to reduce the bottlenecks as much as possible.”

Caterpillar’s shares fell 5.2% to $201.16 Friday as the company said a profit measure had declined due to higher shipping and manufacturing costs. The company reported higher-than-expected shipping costs in the latest quarter as it used more expensive means, like air shipments, to speed deliveries to customers.

Caterpillar and other manufacturers have been dealing with port delays, higher trucking and flying costs, as well asdifficulties obtaining enough parts and computer chips. Many of the problems have been driven by strong orders across the board, stretching the economy’s ability to make enough products, manufacturers said.

The backlog is now worth nearly half of Caterpillar’s sales for the just-completed year.

Construction Demand Lifts Caterpillar Revenue as Order Backlog Grows – WSJ