PACCAR Announces Extra Cash Dividend

Rhea-AI Summary

PACCAR's Board of Directors has declared an extra cash dividend of $2.80 per share, payable on January 5, 2023, to stockholders of record on December 16, 2022. This decision reflects PACCAR's strong financial performance, highlighted by excellent shareholder returns and robust net income. The CEO noted that strong cash flow supports investments in new manufacturing, emerging technologies, and high-demand truck models, contributing to industry-leading fuel efficiency.

Positive

• Declared an extra cash dividend of $2.80 per share, enhancing shareholder income.
• Strong annual net income supports potential future dividend payments and investments.
• Robust customer demand for DAF, Kenworth, and Peterbilt models suggests sustained revenue stream.

Negative

• None.

BELLEVUE, Wash.--(BUSINESS WIRE)-- PACCAR Inc’s Board of Directors today declared an extra cash dividend of two dollars and eighty cents ($2.80) per share, payable on January 5, 2023, to stockholders of record at the close of business on December 16, 2022.

Mark Pigott, executive chairman, shared, “PACCAR has generated excellent shareholder returns and annual net income due to its industry-leading premium quality vehicles, strong growth of its aftermarket parts and financial services, and innovative use of technology to enhance customers’ operational performance.”

Preston Feight, chief executive officer, said, “PACCAR’s excellent profits and strong cash flow have enabled the company to invest in new and expanded manufacturing and distribution facilities, emerging technologies such as zero emissions powertrains, vehicle connectivity and autonomous trucks, and environmental leadership. Customer demand is very strong for the DAF, Kenworth and Peterbilt new truck models, which deliver industry-leading fuel efficiency and ergonomic enhancements.”

PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced powertrains, provides financial services and information technology, and distributes truck parts related to its principal business. PACCAR shares are listed on the NASDAQ Stock Market, symbol PCAR. Its homepage is www.paccar.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005851/en/

Ken Hastings

(425) 468-7530

ken.hastings@paccar.com

Source: PACCAR Inc

FAQ

What is the dividend amount declared by PACCAR in December 2022?

PACCAR declared an extra cash dividend of $2.80 per share.

When will PACCAR's dividend be paid?

The dividend will be paid on January 5, 2023.

Who is eligible for the PACCAR dividend?

Stockholders of record at the close of business on December 16, 2022, are eligible for the dividend.

What were the reasons for PACCAR's strong financial performance?

PACCAR reported strong growth in aftermarket parts, financial services, and innovative technologies.