PACCAR Announces Regular Quarterly Cash Dividend and Extra Cash Dividend

Rhea-AI Summary

PACCAR's Board of Directors has declared a quarterly cash dividend of $0.34 per share, payable on March 1, 2022. An additional cash dividend of $1.50 per share will also be paid on January 5, 2022. The company reported strong shareholder returns and net income, driven by premium-quality products and growth in aftermarket services. CEO Preston Feight highlighted continued investments in vehicle development and innovative technologies, positioning PACCAR for robust demand for its trucks in 2022.

Positive

• Quarterly dividend of $0.34 per share enhances shareholder returns.
• Extra dividend of $1.50 reflects strong financial performance.
• Strong aftermarket parts growth supports overall profitability.
• Plans for innovative vehicle development and emerging technologies.

Negative

• None.

BELLEVUE, Wash.--(BUSINESS WIRE)-- PACCAR Inc’s Board of Directors today declared a regular quarterly cash dividend of thirty-four cents ($.34) per share, payable on March 1, 2022, to stockholders of record at the close of business on February 8, 2022. The Board of Directors declared an extra cash dividend in the amount of one dollar and fifty cents ($1.50) per share, payable on January 5, 2022, to stockholders of record at the close of business on December 17, 2021.

“PACCAR has generated excellent shareholder returns and annual net income due to its industry leading premium-quality global products, strong growth of aftermarket parts and services, innovative use of technology, including e-commerce, and continued expansion of its financial services,” shared Mark Pigott, executive chairman.

“PACCAR’s profits and strong cash flow have enabled the company to invest in innovative vehicle development, new and expanded manufacturing and distribution facilities, environmental leadership, and emerging technologies such as autonomous driving, zero emissions powertrains and connected vehicles,” said Preston Feight, chief executive officer. “PACCAR has implemented excellent health protocols in its facilities worldwide and has proactively partnered with suppliers to enhance vehicle production. Customer demand is strong for the DAF, Kenworth and Peterbilt new truck models launched this year, and 2022 should be another good year.”

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/20211207005915/en/

Ken Hastings

(425) 468-7530

ken.hastings@paccar.com

Source: PACCAR Inc

FAQ

What is PACCAR's dividend announcement for January 2022?

PACCAR announced an extra cash dividend of $1.50 per share, payable on January 5, 2022.

When will the quarterly dividend be paid in 2022?

The quarterly dividend of $0.34 per share will be paid on March 1, 2022.

What factors are driving PACCAR's strong performance?

PACCAR attributes its strong performance to premium-quality products, aftermarket parts growth, and innovative vehicle development.

Is PACCAR planning any new technologies for its trucks?

Yes, PACCAR is investing in autonomous driving, zero emissions powertrains, and connected vehicle technologies.