PACCAR (PCAR) will raise its quarterly dividend by 14.3 percent to $0.32 per share in the first quarter of 2019. The truck maker also announced a special cash dividend of $2.00 per share.

The special dividend of $2.00 per share is payable on January 4, 2019, to stockholders of record at the close of business on December 14, 2018. The regular quarterly dividend will be paid on March 5.

The new annualized dividend of $1.12 per share yields 2.2% at at stock price of $57. The special dividend yields 3.5% at this stock price.

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.