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PACCAR Inc has announced a 9% increase in its quarterly cash dividend, raising it from $.34 to $.37 per share. The dividend is payable on December 6, 2022, to stockholders of record by November 15, 2022. Executive chairman Mark Pigott stated that PACCAR continues to achieve strong business results and has consistently returned approximately 50% of net income to shareholders through dividends over the years. The company is recognized as a leader in technology and the development of zero emissions trucks.
Positive
Quarterly cash dividend increased by 9%, from $.34 to $.37 per share.
PACCAR has delivered annual dividends totaling approximately 50% of net income for many years.
Shareholder returns have outperformed the S&P 500 index for the past 20 years.
Negative
None.
BELLEVUE, Wash.--(BUSINESS WIRE)--
PACCAR Inc’s Board of Directors today approved an increase of 9% in the regular quarterly cash dividend from thirty-four cents ($.34) per share to thirty-seven cents ($.37) per share. The dividend will be payable on December 6, 2022, to stockholders of record at the close of business on November 15, 2022.
Mark Pigott, executive chairman, shared, “PACCAR is achieving excellent business results in its strong truck markets worldwide. PACCAR has delivered annual dividends, including regular quarterly and extra cash dividends, totaling approximately 50% of net income for many years. PACCAR’s shareholder returns have exceeded the S&P 500 index for the last 20 years.”
Preston Feight, chief executive officer, said, “Peterbilt, Kenworth and DAF’s new range of fuel efficient heavy- and medium-duty trucks and PACCAR’s growing aftermarket parts and finance businesses are delivering excellent performance for our customers. PACCAR is an industry technology leader in zero emissions trucks, autonomous vehicle development and connected truck services.”
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 Global Select Market, symbol PCAR. Its homepage is www.paccar.com.
