PACCAR (PCAR) will raise its quarterly dividend to $0.25 per share. The new dividend is payable on June 6, 2017, to stockholders of record at the close of business on May 19, 2017.

“The increase in the quarterly dividend reflects PACCAR’s strong operating results,” said Mark Pigott, PACCAR executive chairman. “In the first quarter of 2017, PACCAR achieved net income of $310.3 million ($.88 per diluted share) as a result of increasing global truck deliveries and PACCAR Parts record quarterly profits.” PACCAR has earned a net profit for 78 consecutive years and has paid a dividend every year since 1941. PACCAR has increased its regular quarterly dividend by 14% in the last two years.

PACCAR Inc (PACCAR) is a manufacturer of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. In North America, trucks are sold under the Kenworth and Peterbilt nameplates, in Europe, under the DAF nameplate and in Australia and South America, under the Kenworth and DAF nameplates. The Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles. The company’s Financial Services segment derives its earnings primarily from financing or leasing PACCAR products in North America, Europe and Australia. The company’s Other business includes the manufacturing and marketing of industrial winches.